European and Asia technology stocks slide after huge losses on Wall Street
European and Asia technology stocks slide after huge losses on Wall Street
A woman passes an electronic stock board in Tokyo on Thursday
11 October, 2018, 20:35
Markets across Southeast Asia recorded similar declines.
Gold rose as sliding global stock markets prompted risk-wary investors to seek the metal, and a drop in U.S. Treasury bond yields helped push the dollar lower.
It also raised the stakes for United States inflation figures due later on Thursday, as a high outcome would only stoke speculation of more aggressive rate hikes from the Federal Reserve.
Whether the lower reading will quell expectations the Federal Reserve will hike interest rates again in December remains to be seen, said Yousef Abbasi, global market strategist at INTL FCStone in NY.
"Equity markets were pulverized today", with investors in "full out retreat", Stephen Innes of OANDA said in a commentary.
Wall Street's troubles caused turmoil in global markets overnight.
US markets are coming off their steepest losses in eight months. -Chinese tariff fight over Beijing's technology policy.
USA consumer prices rose less than analysts had forecast in September, reducing expectations the pace of inflation is accelerating despite a tightening labor market.
"Equity markets are locked in a sharp sell-off, with concern around how far yields will rise, warnings from the IMF (International Monetary Fund) about financial stability risks and continued trade tension all driving uncertainty", summed up analysts at ANZ. Hong Kong's Hang Seng index shed 3.7 per cent to 25,220.67. The Kospi in South Korea fell 3.6 per cent to 2,148.97. Australia's S&P/ASX 200 slipped 2.7 percent to 5,883.80.
Among the biggest sectoral fallers were oil stocks .SXEP , down 2.3 percent, as oil fell to two-week lows, while banks .SX7P fell 1.9 percent.
Most sectors in Europe traded in the red, with tech stocks bearing the brunt of selling pressure after the big overnight sell-off in USA technology shares.
The Dow Jones Industrial Average lost 101 points, or 0.4 percent, to 25,497. The Nasdaq composite index was off 43 points beflore climbing the same amount and the S&P 500 was down 15 before edging into positive territory.
Japan's Nikkei fell 4.4 per cent, the steepest daily drop since March, while the broader TOPIX lost around $230 billion in market value.
The Russell 2000 index of smaller-company stocks shed 2.9%, to 1,575.41. Apple slipped by 4.6% while Amazon lost 6.2%. Amazon has soared 50 percent this year, but its stock has fallen 14 percent from its all-time high in early September.
"The valuation of USA stocks, especially tech stocks, is still pretty high and there could be some profit taking actions now", Tan explained.
The dollar rose to 112.34 yen from 112.27 yen late Wednesday.
By 0845 GMT, the euro zone STOXX .STOXXE index fell 1.2 percent, while the UK's FTSE 100 .FTSE was down 1.6 percent, extending its slide as the pound finds support in expectations that Britain would reach a Brexit deal with the European Union.
Brent crude fell 1.9 per cent to $81.51 a barrel, while USA crude dropped 1.7 per cent to $71.93.
A television screen on the trading floor of the New York Stock Exchange shows the plunging numbers for the Dow Jones industrial average, March 22, 2018, as investors feared trade tensions will spike between the USA and China. Brent crude, the global standard, dropped 1.58 dollarsssss to 81.51 dollars a barrel.
As it came ashore, Michael was just shy of a Category 5 - defined as a storm packing wind speeds of 157 miles per hour or above. The town looked bruised, said Kathleen Troy, 57, as she and her husband walked their dog through dark streets, but not beaten.
This model comprises of 182 pieces, including either a tile or sticker that denotes the set as a Blizzard exclusive. In addition, Bastion's trusty companion Ganymede is also included - in chunky black and red Lego form.
It is also the only phone certified by Netflix for for HDR video content and Dolby Surround 5.1 audio content. When the phone is held in landscape mode, they become grips for players during intensive bouts of gaming.
In 2014, a video , which was apparently taken with a hidden camera had Tyagi, Kapoor and his wife in it. For the ones who do not know, Subhash Kapoor was accused by Geetika Tyagi of molestation in 2014.
Apparently, the four-camera Samsung will feature a main sensor of 24MP, with F1.7, capable of great low-light performance. As for the display , the A9 boasts of a 6.3-inch Full HD+ Super AMOLED with a resolution of 1080×2220 pixels.
Directed by Guy Ritchie , the new Aladdin stars Will Smith as the Genie, taking over the iconic role for the late Robin Williams . The live-action Aladdin started filming in September 2017, a few months delayed after a prolonged casting process .
The benchmark USA stock index hadn't suffered a five-day losing streak since November 2016, just before the presidential election. Asian markets were broadly lower on Thursday after Wall Street slumped on a heavy selling of technology and internet stocks.
According to the letter , the detective told the witness she had no obligation to cooperate with prosecutors and "less is more". Weinstein had previously pleaded not guilty to the six sex crimes he's been charged with in NY , including two counts of rape.
On the plus side, the Nokia 7 .1 will retail at about $250 thus making it significantly cheaper than the Pixel 3. For additional storage, users can make use of the microSD card through the hybrid SIM slot on the phone.
Fitness Boxing features a daily training mode that offers low-and high-intensity workouts, each lasting between 10-40 minutes. The game software estimates your approximate BMI and daily calories burned so you can track your progress.
As Android Authority reports , the phone runs a Snapdragon 660 and includes a headphone jack for old's time sake. Sitting at the top is an 8-megapixel ultra wide-angle sensor with f/2.4 aperture and 120-degree field of view.
Turkey releases names of 15 Saudi suspects in Khashoggi murder
Erdogan said the kingdom has the responsibility to prove its claim that the missing Saudi journalist left the consulate alive. According to the New York Times , officials in Istanbul believe he was killed on orders from the royal court of Saudi Arabia.
India vs West Indies
Virat Kohli , who was rested for the Asia Cup, will resume his limited overs captaincy in the ODI series. Mohammed Shami , who last played an ODI in 2017 against Australia, has been recalled to the squad.
PGA CIMB Classic Odds 10/8/18, Who Do Oddsmakers Favor?
I've been quite consistent with my play, but I didn't have enough good finishes on the board, after the win at the CIMB Classic . "I had a goal at the start of the year where I wanted to be in the top 500 in the world golf rankings".
Samsung’s likely to integrate new AI chip into Galaxy S10
The publication suggests that only the premium version of the possible trio of phones will be equipped with a triple camera setup. These two smartphones have dual-SIM support as well - and they come with dedicated SIM 1 + SIM 2 + microSD card slots.
Nokia 7.1 Plus Expected to Launch Today in India
Regardless of this, a respectable 3,500mAh battery is included, as is stock Android 8.1 Oreo as part of the Android One program. HMD has tied up with Reliance Jio to offer up to 544GB free 4G data, however the exact terms weren't announced at the event.
Dow Jones plunges 800 points as tech stocks tumble
US consumer price inflation is now above 2 percent annually and the unemployment rate is the lowest in about 40 years. The FTSE 100 opened 1.5% lower - hovering just above the 7000 point level - following a 1.3% decline on Wednesday.