Dow Jones nose-dives 1,00 points on Thursday

Dow Jones nose-dives 1,00 points on Thursday

Tokyo's Nikkei 225 lost 2.3 percent to 21,382.62 and Hong Kong's Hang Seng retreated 3.1 percent to 29,507.63.

Even with Friday's gains, the benchmark S&P 500 fell 5.2 per cent for the week, its biggest weekly percentage drop since January 2016, as volatility spiked back up.

Chinese equities were hurt by the drop in global shares and by traders closing positions before the Lunar New Year holidays starting next week.

The 10-year Treasury yield, which touched a four-year high of 2.88% on Thursday, is trading around 2.81% on Friday.

The Russell 2000 is down 57.67 points, or 3.8 percent.

Shares of Woonsocket, Rhode Island-based CVS Health Corp. slumped almost 3 per cent, or $2.03, to $72.32 in afternoon trading on another down day for broader indexes Thursday.

Eight stocks fell for every one that rose on the New York Stock Exchange, and 490 of the companies in the S&P 500 took losses.

"You have a fundamental difference between the economy and earnings doing well, versus interest rates going up and inflation picking up, and it's still a question of which will dominate", said Giri Cherukuri, head trader at OakBrook Investments LLC in Lisle, Illinois.

"I normally wouldn't be looking at my iPhone, but given the market moves, I am checking it", he told lawmakers on the House Financial Services Committee.

Coupe said the volatility is coming about because investors are having difficulty deciding between stocks and bonds at the moment. The Nasdaq Composite closed at 6,777.16 for a loss of -274.82 points or -3.90%.

After Friday's jobs report showed that average hourly wage growth accelerated to 2.9% in January from a year ago, markets suddenly started to price in a risk that dormant wage and price inflation may shift into higher gear, fueled by the Trump tax cuts.

Ybor City is top choice for next Rays ballpark
There is also no timetable in place as to when the stadium will be built, thanks in large part to the financing questions. Pete, but this region - the opportunity to compete to ensure that the Rays stayed in the Bay Area".

MDOT ready for storm as city declares snow emergency
Ahead of a new storm blasting through the Upper Midwest, 12 states from Montana to OH are heeding winter-weather alerts . All vehicles parked along the designated snow emergency routes in the municipalities will be either ticketed or towed.

Rachel Brand, No 3 justice department official, reportedly planning to resign
A friend of Brand's says Rachel was "not looking to leave", but was approached by a Fortune 500 company with a "dream job". After the attorney general and his deputy resigned rather than fire Cox, Bork became attorney general and fired him.

As the stock market fell on Monday, the White House said the fundamentals of the US economy are strong.

The broader Standard & Poor's 500 index was down 5 points, or 0.2 percent, at 2,643. The yield on the 10-year Treasury rose to 2.86 per cent from 2.83 per cent late Thursday.

But first: There's a reason this correction feels worse that any correction I can recall in 35 years of watching markets.

"Over the last half a dozen of years we have been saying equity valuations can be higher because we are living in a low interest rate and low inflation environment but that's reversing a little bit and that's what we are staring at now", said Art Hogan, chief market strategist at B. Riley FBR in NY. The housing industry is solid.

Markets continue to fall during the Great Depression. Heating oil shed 7 cents to $1.86 a gallon.

Many investors justified that by pointing out that interest rates were low and few alternatives looked like better investments.

The ferocity of the selling has caught investors off guard.

In Europe, Germany's DAX fell 1.2 percent, while France's CAC 40 lost 1.4 percent. For the long-term, the stock market is a good place to invest, but during these short-term times, there will always be some type of pull-back.

Thursday's markets reflected the recent craziness in stocks.

Finally, it's important to understand that if a stock's price declines by 30%, you'll be waiting for an increase of more than 30% to recoup your losses.

Related Articles