profishingrods.com
profishingrods.com December 10, 2018


Asia shares sink after Wall Street sell-off

07 December 2018, 02:12 | Joann Bryant

Traders work on the floor of the New York Stock

Traders work on the floor of the New York Stock

-China trade talks rattled investors who had been in a buying mood earlier this week. Benchmark U.S. crude gained 0.6 percent to settle at $53.25 per barrel in NY. As we get headwinds from trade worries fading, you get an inverted yield curve and another brick added to the market's wall of worry, ' said Hogan.

Concern over a possible recession also had a negative impact on the markets, as the yield on the three-year Treasury note surpassed its five-year counterpart on Monday.

A day after global stocks rallied on a weekend US-China announcement suspending new tariffs, global markets mostly pulled back as investor focus shifted to the murkiness over what was agreed to and the difficulty reaching resolution to disputes on thorny matters such as intellectual property.

ASIA'S DAY: Hong Kong's Hang Seng index tumbled 2.5 percent to 26,156.38 and Japan's benchmark Nikkei 225 fell 1.9 percent to 21,501.62.

US stocks veered sharply lower in afternoon trading today, pulling the Dow Jones Industrial Average down 700 points. The market gained Monday after the Trump administration said USA and China agreed to a temporary cease-fire in a trade dispute. Trump renewed threats of tariff hikes on Tuesday, saying on Twitter that Washington would have a "real deal" with China or else would charge "major tariffs" on Chinese goods.

In a much-anticipated weekend meeting between Donald Trump and Xi Jinping, the heads of the world's two biggest economies hammered out a deal that will see them hold off on their tit-for-tat tariffs row, which has roiled global equities for months.




FED WATCH: Markets got jolt from remarks by the president of the Fed's NY regional bank. During a briefing with reporters, Williams said that, given his outlook for strong economic growth, he continues to "expect that further gradual increases in interest rates will best sponsor a sustained economic expansion".

The jitters helped drive demand for government bonds today, pushing prices higher. Copper fell 1.8 percent to $2.78 a pound. The slide in bond yields, which affect interest rates on mortgages and other consumer loans, weighed on bank stocks. Brent crude, used to price worldwide oils, lost 63 cents to $61.45 per barrel in London.

The dollar weakened to 113 yen from 113.69 yen late Monday. The FTSE 100 index of leading British shares slid 0.6 per cent. The euro declined to $1.1330 from $1.1343. Hovnanian Enterprises led most builders lower, giving up 10.3 percent to $1.10.

AutoZone climbed 5.6 percent to $870.65 after the auto parts retailer delivered third-quarter earnings that exceeded analysts' forecasts.

Gold gained 0.6 percent to $1,246.60 an ounce. Germany's DAX lost 1.1 percent, while France's CAC 40 dropped 0.8 percent.



Other News

Trending Now

Shocking article says Priyanka's love marriage is 'scam'
Nick Jonas has never shied away from flirting with his Lady Love on social media.And the reception night was no different. "Upon further editorial review, we found this story did not meet our standards", the editorial note now reads.

Using water and gold, Australian researchers discover 'universal cancer biomarker'
The position of these molecules forms part of the epigenome - a set of instructions that controls how genes are expressed. The technology has proven to be up to 90 per cent accurate in tests involving 200 human cancer samples and normal DNA.

Senior cop, another killed in Uttar Pradesh over dead cows
The police inspector's family has alleged a police conspiracy in his death because he was probing the lynching of Mohammad Akhlaq. Police in Bulandshahr district, where the clashes occurred, have deployed additional personnel.

Huawei Nova 4 to launch on December 17
With the advent of this breakthrough technology, smartphones may finally bid adieu the dreaded notch that plagued the 2018 phones. Granted, these CAD-based renders don't always reveal the full picture, but they often provide a reasonable idea of the design.

Mourinho welcomed me back to Premier League, says Ranieri
"I think in the Premier League it's always a big game - that's one of the things I have noticed here". Vote in the Irish Independent Sport Star Awards and you could win the ultimate sports prize.

China to 'immediately' apply measures agreed in trade truce with US
The White House statement listed what it claimed China had promised to do. "The negotiations with China have already started". He noted all the major American players attended the Argentina meeting, giving a sign of "buy in" on a US position.

Tornadoes rip through Midwest, killing 1 and damaging hundreds of homes
At least three tornadoes were confirmed in northwest and southwest Arkansas, which largely caused property and structural damage. That year, 25 tornados tore through Southern Illinois and parts of Missouri, killing 17 people and injuring 273 more.

At least three dead in bomb attack in Iran's Chabahar
At least two people were killed and many more injured in the terror attack outside police headquarters in Chabahar. The so-called Ansar al-Furqan terrorist group later claimed responsibility for the assault.

Singer Mika Singh arrested in UAE over sexual harassment charges
Before that, Mika was arrested at the Mumbai airport for allegedly carrying Indian and foreign currency beyond permissible limit. Singer Mika Singh has been detained in United Arab Emirates (UAE) after a girl complained against him for alleged harassment.

India's pace hype faces stern Australia test
Finch is set to open the batting in Australia's four-Test series opener against India , which starts on Thursday. Try as they might, Team India was never able to pull off a series victory Down Under.