hp for ($i=0; $i]+>!is", "", $news['Contains'][$i]['Body']); ?>

A Big Drop In US Financial Markets Drags Down Others

A Big Drop In US Financial Markets Drags Down Others

A Big Drop In US Financial Markets Drags Down Others

Before Monday's fall, the index had not seen a pullback of over 5 per cent for more than 400 sessions, which analysts say was the longest such streak in history.

Oil prices also dropped, with worldwide benchmark Brent futures hitting a one-month low before recovering to stand at $67.28 per barrel, down 0.5 percent on the day.

This fell off in the stocks world wide began in the last week when the news of a solid USA jobs report boosted expectations of a rise in the U.S. federal interest rates.

World stock markets nosedived for a fourth day running on Tuesday, having seen $4 trillion wiped off from what just eight days ago had been record high values.

Japan's Nikkei index nosedived 4.7%, while Hong Kong's Hang Seng suffered a loss of 5.1%. The dollar weakened to 108.81 Japanese yen.

Top Japanese officials on Tuesday sought to downplay concerns about plunging share prices, pointing to strong growth and corporate earnings as reasons for calm.

The comments came as the benchmark Nikkei 225 index dipped 7.1 percent in Tuesday afternoon trading, before recovering slightly.

People monitor a stock index board at a bank in Bangkok, Thailand, February 6, 2018.

Responding to the market sell-off, the White House said Trump was focused on the long-term health of the United States economy, claiming the fundamentals were "exceptionally strong". Dow futures were swinging wildly.

Tokyo stocks fell almost across the board after the Dow Jones industrial average plummeted 1,175.21 points, or 4.60 percent, in NY on Monday, incurring the worst one-day point loss ever. There was intense trading activity, with more than 40 percent of the average daily volume traded on Germany's DAX and Europe's STOXX 50 by 0845 GMT. The indexes in South Korea, Singapore and Australia were down by about 3.1 percent.

The dollar was trading at 109.10 yen against 109.13 yen in NY, sharply lower than rates around 110 yen seen a day earlier.

Export-oriented names, including automakers Toyota, Nissan and Honda, as well as technology firms Hitachi and Canon, were downbeat, dragged down by the yen's appreciation.

Arsenal 5 Everton 1: Aubameyang, Mkhitaryan sparkle as Ramsey hits treble
I can say is that it was a convincing debut that shows that he has the level to play with us. They have conceded 34 goals in the Premier League - more than any other side in the top six.

QUALCOMM (QCOM) Earns News Sentiment Score of 0.10
Greg Poole increased its stake in Colgate Palmolive Co (CL) by 178.7% based on its latest 2017Q3 regulatory filing with the SEC. The stock of QUALCOMM Incorporated (NASDAQ:QCOM) has "Buy" rating given on Tuesday, August 22 by KeyBanc Capital Markets.

DMX Back to Jail for Failing Drug Tests
Prosecutors reportedly showed a TMZ video published on January 23, to the court, in which DMX ranted about God at a Chili's bar. He was reportedly taken into police custody for violating his parole, as evidenced by failed drug tests.

Equity markets in Europe and Asia, along with oil prices, also retreated amid a general aversion towards riskier assets.

The Dow Jones industrial average plunged 1,175 points, or 4.6 percent, erasing its gains for the year. That raised the alarm about higher inflation and, with it, potentially higher interest rates. The Dow closed down 1,175 points, or 4.6%.

The Dow ended at 24,345. The Nasdaq composite was little changed at 6,968.

The 10-year U.S. Treasuries yield rose to as high as 2.885 percent on Monday, its highest in four years and up 47 basis points since the end of 2017. "It is now up 187 points so we are back up today".

Minutes after the European markets opened, there were sharp declines across most sectors in a morning sell-off. It was down 872, or 3.4 percent, to 24,651.

Wells Fargo plunged 8 percent after the Federal Reserve hit the bank with new sanctions over a scandal that involved opening millions of phony consumer accounts. Japan's benchmark index slumped almost 1,200 points.

Bond yields slipped after moving sharply higher Friday.

Buying on dips was held in check to some extent "due to concerns over further falls in USA stocks", said Tomoaki Fujii, head of the investment research division at Akatsuki Securities Inc. Exxon Mobil fell 3.5 percent.

Since coming to office, Trump has repeatedly touted day-to-day stock market increases as evidence his administration is succeeding. "On the domestic front other factors like high valuations, uncertainties on growth, inflation and interest rates and fears of RBI turning hawkish are unnerving investors".

The Standard & Poor's 500 index fell 14 points, or 0.5 percent, to 2,748.

Other banks also fell.

The Standard & Poor's 500 index dropped 20 points, or 0.7 percent, to 2,741.

Related news