It came after Wall Street stocks plunged Wednesday, with major indices losing more than three per cent in a sell-off prompted by the sudden jump in U.S. interest rates and increasing trade worries.
As long as earnings and the U.S. economy are continuing to grow, this market pullback will wind up being a healthy dip Alexander said. The CBOE Volatility Index, or VIX, a market barometer often dubbed Wall Street's fear gauge, surged more than 25%.
"We've scratched our heads about the rise in stocks for the past 18 months".
The broad-based S&P 500 slumped 3.3 percent to end at 2,786.46, while the tech-rich Nasdaq Composite Index plummeted 4.0 percent to finish the session at 7,427.74.
The S&P 500 index hasn't suffered a five-day losing streak since November 2016, just before the USA presidential election.
Meanwhile, the tech-heavy Nasdaq has lost 4.1 per cent to 7,422.
The S&P 500 fell 39 points, or 1.4 per cent, to 2,840. The Russell 2000 index of smaller-company stocks shed 37 points, or 2.3 per cent, to 1,584. The price of the bond with the lower interest rate, known as its coupon, will fall enough to raise the yield to mirror the higher rate. As LPL Financials' Ryan Detrick notes, the S&P 500 just came off its least volatile third quarter since 1963, has been up for six consecutive months, and hasn't closed up or down more than 1% for more than three straight months, "one of the longest streaks ever". That didn't happen Wednesday as stocks fell further late in the day.
Microsoft dropped 4 per cent to $107.82. Amazon skidded 6.2 per cent to US$1755.25. Industrial and internet companies also fell hard.
The tech sector was hit hardest, with Netflix down almost 7 per cent, Amazon down 5 per cent and Apple, Google and Facebook all down more than 3 per cent.
Insurance companies dropped as Hurricane Michael continued to gather strength and came ashore in Florida bringing winds of up to 155 miles an hour. Berkshire Hathaway dipped 4.7 per cent to US$213.10 and reinsurer Everest Re slid 5.1 per cent to US$217.73.
The retreat from luxury stocks was due to slowing demand from China as its trade war with the United States continues and shows no signs of easing.
USA stock exchanges recorded biggest losses in 8 months as rising interest rates made investors flee risky stocks.
That all played into a market that is increasingly anxious about global growth after warnings from the International Monetary Fund this week and a rise in Treasury yields to a more than 7-year high above 3 percent that signals a tightening of available capital globally.
The Dow fell 831 points, or 3.1 percent, to 25,598.
Wall Street stocks plunged Wednesday, with major indices losing more than three percent in a selloff prompted by the sudden jump in U.S. interest rates.
Rising costs, as inflation and borrowing rates pick up, could also be a worry for stock markets.
Gina Martin Adams, the chief equity strategist for Bloomberg Intelligence, said investors are concerned about the big increase in yields, which makes it more expensive to borrow money.
It struck the island of New Britain this morning, and the Pacific Tsunami Warning Centre said there is now a threat of a tsunami. Memorials will be constructed in hard-hit neighbourhoods such as Balaroa and Petobo, he said. "People are traumatized.
But critics said Kavanaugh's demeanor raised questions about his temperament and potential political bias in deciding cases. Baldwin pointed to one plan sold in her state that she said does not cover hospital care on a Friday or Saturday.
Being a leading provider of these services, Grab serves customers in around 235 cities across eight Southeast Asian countries. To improve map creation and quality, Grab plans to tap into the power of Microsoft's machine learning capabilities.
According to analysts at Danske Bank, in Europe the Italian Job continues to raise risks of "blowing the bloody doors off". The nation's benchmark FTSEMIB stock index fell to its lowest level since April 2017.
Defense and stamina stats will also be rebalanced, allowing Pokemon with high defense to better outlast attacks. Soon, this game will get fourth-generation Pokemon, as well as various minor tweaks and improvements.
Plus, the device supports Google's Voice Match, so up to six people in your home can get their own personalised Mourning Routine. While video calls are useful, most people are pretty comfortable using their smartphone for all things communication-related.
Less than 48 hours after her post, more than 169,000 new people had registered to vote, more than half of whom were aged 18 to 29. If you believe that climate change is real and that we need to do something about it...
But eventually the high rates worry stock investors, as higher rates tend to increase borrowing costs and cut into profit margins. Higher rates can slow economic growth, erode corporate profits and make investors less willing to pay high prices for stocks.
China’s Urumqi Takes Aim at ‘Extremist’ Religious Practices
Chinese authorities deny that the internment camps exist but say petty criminals are sent to vocational "training centres". Unrest between Uighurs and members of the ethnic Han Chinese majority has seen hundreds killed in recent years.
Reasons Why Princess Eugenie Is the Most Relatable Royal
With over 850 invited guests , including the royally acquainted Clooneys and Beckhams, this is sure to be one swanky shindig. This means that while Eugenie does attend royal events, she does so out of choice and is not obliged to. [MUSIC] Coinage.
HPV Vaccine Approved For Adults Up To 45
There now is a shortage of Shingrix, the vaccine to protect people 50 and older against the painful nerve condition of shingles. For the study, the team investigated almost 600 men who have sex with men, or MSM, and transgender women in Lima, Peru.
Kylie Jenner confirms another lip job
In the image, Kylie shows off her flat midriff in a black bodysuit with high-waisted denim with her short brunette locks loose. Back in March 2017, Kim Kardashian West sported a Kris-esque wig, writing on Instagram, " Kris Jenner vibes".
Tata Tigor facelift launched at Rs. 5.20 lakh
The petrol engine will be available with both 5-speed manual and AMT gearboxes, while the diesel comes with a 5-speed manual only. It will continue to be powered by a 1.2-litre 3-cylinder Revotron petrol engine and 1.05-litre 3-cylinder Revotorq diesel engine.
Tropical Storm Michael Moves Near Western Cuba
From there, it will move northeastward across the southeastern United States on Wednesday night and Thursday. Michael, moving toward the US Gulf Coast, is now a Category 1 hurricane, the National Hurricane Center said .