Dow, S&P Snap Longest Monthly Win Streak in Decades

05 March, 2018, 01:29 | Author: Kathy Ellis
  • Specialist Meric Greenbaum works on the floor of the New York exchange. Stocks fell sharply last month

Dealers were taking fright at a plan announced by President Trump... Investors wondered if that will lead to other countries putting up barriers that will hurt the global economy as well as profits for USA exporters like Apple.

The S&P 500 fell 30 points, or 1.1 percent, to 2,713. It was down as much as 586 points earlier.

France's CAC 40 fell 1.1 percent to 5,264, while Germany's DAX dropped 1.6 percent to 12,233.

Best Buy jumped around 5 percent after it reported strong same-store sales for the fourth quarter, recovering from falls overnight due to the USA consumer electronics retailer's announcement of 250 small mobile phone store closures. Boeing shares fell 3.5% while Caterpillar lost 2.85% and United Tech 3.3%.

The fall - by more than 1%, again for a third day in a row for the Dow - the first time in two years that it has fallen 1% or more three days straight - pushed the ASX futures market lower as well. Apple gave up $4.65, or 2.6 per cent, to $173.47 and Pfizer shed $1, or 2.7 per cent, to $35.32.

But US stocks, which had joined global markets in tumbling at the market open, rebounded considerably from their session lows.

John Kelly Acknowledges He Mishandled Accusations About Rob Porter
Kelly said he had " my eyes opened" when he found out, saying it was " more people than I was comfortable with". Kelly said Friday that he first learned of that in September. "I'm having my eyes opened her", he said.

A note from Oxford Economics warned of "tit-for-tat" retaliation from other countries and said the tariffs could "embolden" Trump to take more punitive actions if the manoeuvre is "deemed a political success".

Powell's first appearance in Congress on Tuesday did little to cool market fears that his arrival at the Fed could see it deliver more US rate rises than previously expected this year. That's more than the market capitalisations of CBS and Viacom combined.

Earlier in the week, Powell helped send Treasury yields jumping and stocks tumbling when he said that he's feeling more optimistic about the economy.

Meanwhile, the Federal Reserve is likely headed for three rate hikes in 2018, but investors are anxious that policymakers may be more aggressive.

Film industry technology company Vista Group International (ASX:VGL) has reported its net profit after tax (NPAT) fell from $50 million to $10 million for the full year to December 2017.

Overstock.com dropped 7.7 per cent after the online retailer disclosed in a regulatory filing that the Securities and Exchange Commission asked the company last month for information about a $250 million offering by its blockchain subsidiary, tZero, related to digital tokens.

Recommended:



Popular

White House denies security adviser HR McMaster is departing
Sources with knowledge of McMaster's standing in the White House have repeatedly said that he has been on thin ice for months. Catz was on President Trump's transition team, and was previously mentioned as a potential Director of National Intelligence.

Three arrested following looting in west Dublin
Eight men have been charged with various offences including theft, burglary and trespassing arising from last night's incident. Shortly after this incident occurred, guards arrived on the scene and nine people were arrested.

Dublin airport closed until Saturday
Around 11:30 a.m., approximately 20% of Friday's arriving and departing flights were canceled. Please check the status of your flight with your airline before travelling to the airport".

Marine Le Pen charged for posting violent Isis images on Twitter
The investigation is the latest blow to the embattled Ms Le Pen, who lost the French presidential election to Emmanuel Macron in May 2017.

Google shunned white, Asian men, lawsuit asserts
Wilberg alleges that one black engineer reported that she was uncomfortable only being asked to interview black candidates. Foreign Ministry spokesperson Hua Chunying merely said in Beijing Friday that China urges the USA to follow trade rules.

How to Watch Real Madrid vs. Getafe
After some patient build-up play, the Welshman unleashed a left-footed effort past Emiliano Martinez . The striker caught Nacho round the neck with an outstretched arm and was given a second yellow card.

Photos! When Bachchan family celebrate 'Holi'
Family and friends come together to feast, dance, and laugh together while dousing each other with colored powder and water. Youths form a human pyramid to reach to a clay pot during a Holi celebration in Tamghas, Gulmi, on Thursday.

Buffalo Bills: Why not Lamar Jackson?
Rarely has a player of Jackson's caliber been asked to swap positions two years after winning the top award in college football. Either way, Jackson needs someone on his side who knows how to put out this weird little fire quickly.

No, Diablo is Not Coming to the Nintendo Switch
Considering that Blizzard hasn't ported a game to a Nintendo console in quite some time, that's interesting in and of itself. I doubt we'll hear anything about this project until Blizzard is ready to show the game running in all its glory.

Key US diplomat on North Korea policy quits
State Department officials have also grown frustrated at times by the White House's approach to career diplomats like Yun. Speaking with USA network CBS News after announcing his retirement , Mr Yun said: "It is really my decision".