profishingrods.com
profishingrods.com December 17, 2018


Nikkei plunges by over 1000 points in afternoon trading

12 October 2018, 01:30 | Joann Bryant

Dow Falls 430 Points as Bond Yields Surge and China Tensions Grow Spencer Platt Getty Images10 Oct 2018

New York City. With bond prices dropping interest rates have been surging resulting in the Dow Jones Industrials Average falling over 200 poin

The Dow Jones industrial average had its second-biggest drop of the year, plunging almost 500 points, or 1.9 percent, shortly after 2:00 p.m.

The losses were widespread as bond yields remained high after steep increases last week.

Fears over the worldwide trade war, rising rate hikes, the impact of Hurricane Michael, the upcoming US midterm elections and a potentially disappointing Q3 earnings season likely all played a role in the weak market.

The index was down 832 points, or 3 percent, at the end of trading Wednesday. The Nasdaq fell 315 points, or 4.1 per cent, to 7,422.

The S&P 500's current decline is the longest since a nine-day skid shortly before the 2016 presidential election. The FAANGs, spread over three sectors, were down between 1.4 percent and 5.4 percent. Think of it this way, if the Treasury issues a $1000 bond paying 3 percent interest, investors will not pay $1000 for an older bond paying 2 percent interest. Industrial and internet companies also fell hard. Shares of Facebook, Amazon, Apple and Netflix and Google, the so-called FAANG stocks, were among the hardest hit, shedding billions in market capitalization.

United States 10-year Treasuries, a closely-watched indicator of bond yields, hit a seven year high of 3.26pc on Wednesday.

Some early relief over a tame report on United States inflation gave way to renewed selling.

"Both companies highlighted rising costs, not only input costs but increasing operating expenses [and] marketing expenses", she said. Berkshire Hathaway dipped 4.7 percent to $213.10 and reinsurer Everest Re slid 5.1 percent to $217.73. Amazon plunged 6.2 percent.




Investors are wary of possible further USA interest rate hikes. But higher interest rates can slow economic growth and erode corporate profits.

The yield on the 10-year Treasury is 3.20%, the highest level in seven years. Chip gear producers Applied Materials, Teradyne and ASML Holdings fell between 3.5 percent and 4.6 percent. Adams, of Bloomberg Intelligence, said investors have concerns about their future profitability, too. Stocks had come close to big drops in the last few days, but each time they recovered some of their losses.

MSCI's gauge of stocks across the globe fell percent, its biggest single-day fall since February.

Most analysts believe the pullback is temporary and that stocks will eventually recover and hit new highs. They've also dropped more than the rest of the market so far this month. Over the years, Sears has closed hundreds of stores and sold several famous brands.

U.S. crude settled down $1.79 at $73.17 per barrel and Brent fell $1.91 to settle at $83.09.

Bank shares were boosted as yields rose, with Citigroup and Bank of America seeing gains of 0.4 percent and 0.3 percent, respectively. Brazil's Bovespa lost 2.5 per cent and the Merval in Argentina sank 2.2 per cent.

The dollar fell to 111.94 yen from 112.59 yen, and the euro rose to $1.1594 from $1.1525. The British pound rose to $1.3197 from $1.3146.



Other News

Trending Now

Princess Eugenie's Wedding Party Includes the Daughter of an English Rock Star
They are protective over their young children, and choose not to show their children's faces when they post on social media. She is Theodora Williams, six, daughter of the singer Robbie Williams and his actress wife Ayda Field.

Butler aggressively re-joins Wolves; Heat ready to talk trade
A couple of Butler's teammates were particularly vague when asked about Butler's level of participation in practice on Wednesday. The Rockets also engaged in Butler trade talks, but have thus far been unwilling to trade forward P.J.

Trump on 831 Stock Market Drop: Fed Has Gone Crazy
In September, the Federal Reserve raised short-term interest rates for the third time this year. The Dow Jones industrial average dropped 3.1 percent, or 831 points, to land at 25,599.

Selena Gomez reportedly suffers mental health crisis
She's surrounded by close family and has a lot of support. "She's doing better now and is seeking treatment on the East Coast". The Heart Wants What It Wants hitmaker announced on September 24 that she was taking a break from social media .

Pogba says he doesn't need Man United captain's armband to be leader
Pogba made his France debut in 2013, and has racked up 62 caps while appearing at three major tournaments. "I would have said "no, that's not something to say because you're not the manager".

U.S., Russian Space Crew Heading Back To Earth After Booster Failure
Search and rescue teams are in the air and heading towards the expected touchdown location, Nasa added. NASA astronaut Hague and Roscosmos' cosmnonaut Ovchinin lifted off as scheduled at 4:40 a.m.

Gender gap hurts GOP but Kavanaugh helps — McConnell to AP
President Donald Trump listens as retired Supreme Court Justice Anthony Kennedy swears-in Supreme Court Justice Brett Kavanaugh . The fight over Kavanaugh has "energized our base like nothing else we've been able to come up with", McConnell said.

Branson: Virgin Galactic To Put People In Space in 'Weeks, Not Months'
Blue Origin , owned by Amazon founder Jeff Bezos , said that it aims to begin test flights by the end of 2018. The company expects its New Shepard suborbital vehicle to carry the first space tourists into orbit in 2019.

Google reveals the Pixel 3 and Pixel 3 XL
And the Pixel , as Google's marquee Android smartphone , is competing with a number of flagship devices crowding the market. Although rumours are now swirling about the Google Pixel Slate , nothing has been officially confirmed by the tech company.

Samsung Galaxy A9 launched with four rear cameras: Specifications, features
The A9 (2018) gets its juice from a sizeable 3800 mAh battery and runs on Android 8.0 Oreo out of the box. The handset will be available for purchase in select markets starting from early November.