Tech Stocks Record Worst Day in 7 Years

15 October, 2018, 08:25 | Author: Frank Williams
  • Why Howard Marks is cautioning investors

Stocks are slumping for a second straight day as the market endures its most volatile stretch since February.

The Russell 2000 skidded 85.43 points, or 5.2 percent.

All of those factors could threaten the impressive profits Corporate America has been reporting this year.

The Russell 2000 index of smaller-company stocks added 1.30 points, or 0.1 per cent, to 1,546.68. The S&P 500 rose 1.5% to slightly above its 200-day moving average.

The three gainers among banks included Citigroup (C.N), which rose 2.0 percent, and Wells Fargo (WFC.N), which eked out a 1.3 percent gain after upbeat results. The S&P 500 opened at 2785.68, down 3.29%, while the Dow slid marginally at market open, hovering around 25466.

The S&P 500 index posted no new 52-week highs and 52 new lows; the Nasdaq Composite recorded 10 new highs and 234 new lows.

The Nasdaq sank 291.55 points, or 3.7 percent.

More news: DUP’s Foster challenges May with 'blood red lines' over new Brexit ‘backstop’

US stocks are falling again a day after their biggest drop since February.

Following the worst couple of days on Wall Street since February, stocks staged a recovery on Friday amid signs inflationary pressures remain in check despite a humming economy, and as earnings season kicked off with strong postings from major banks.

The Dow Jones Industrial Average advanced 287.16 points, or 1.1 per cent, to 25,339.99.

US markets are coming off their steepest losses in eight months. Data out a day earlier showed consumer prices rose 0.1% during that same time period, also falling short of economist expectations. Apple shares fell 1.2 percent. "They wanted to get in before next week when earnings start coming", said Janna Sampson, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois.

The S&P technology index.SPLRCT gained 3.2 percent on the day, showing its strongest one-day gain since March 26, although it still registered its biggest weekly drop since March 23.

The Nasdaq is up 593.50 points, or 8.6 percent.



Novak Djokovic sees off Borna Coric to close gap on Rafael Nadal
He previously shared the record of winning three Shanghai titles with Andy Murray . Federer and Nadal both had 17-match winning streaks during the year.

TMZ: Ariana Grande, Pete Davidson split; engagement called off
The romance between " Sweetener " singer Ariana Grande and " SNL " performer Pete Davidson has turned sour. Grande was shaken by the sudden death of ex-boyfriend, rapper Mac Miller , who passed away in September.

Red Sox Celebrate With 'New York, New York' After Eliminating Yankees
Porcello needed only 25 pitches to get through New York's lineup the first time and entered the fifth inning with only 40 pitches. Sabathia uncorked a wild pitch, allowing Pearce to move to third. "I was fine with the way CC was throwing the ball", Boone said.

World Longest Flight From Singapore to New York Finally Landed
The 16,700-kilometer flight takes 18 hours and 45 minutes. In this case, I present to you the Airbus A350-900ULR. This was abandoned in 2013 due to high oil prices.

Riteish Deshmukh on Housefull 4: I second Akshay Kumar's stand
Actor Akshay Kumar just returned from Italy and he has cancelled the shoot of Housefull 4 , which was to take place in Mumbai . Her revelation in interviews, not surprisingly, created an outrage and rekindled the infamous #Metoo movement in Bollywood.

Trade war would slow but not stop global growth
It left 2018 growth forecasts for the two countries unchanged at 2.9 percent for the United States and 6.6 percent for China . In several key economies, moreover, growth is being supported by policies that seem unsustainable over the long term.

Air India pilots keep flying despite takeoff mishap
The pilot and the co-pilot of the aircraft during the incident has been suspended until the investigation is completed. After the incident, an internal inquiry has been set up, pilot & co-pilot derostered until the investigation is done.

Oil Prices Rise As US Sanctions Loom
The Islamic Republic exported 1. 1 million barrels per day (bpd) of crude in that seven-day period, Refinitiv Eikon data showed. United States sanctions against Iran will kick in from November 4, which will block payment routes.

Eagles reportedly reach out to Bills about LeSean McCoy
Things have changed over 48 hours, however, because Jay Ajayi suffered a torn ACL in Sunday's loss to Minnesota. It's unclear if he's now torn that same ACL again or whether it's his other knee.

Ogun: Children coming down with mental health disorders on the rise
Government, the World Health Organization and the Organization for Economic Cooperation and Development (OECD). This week alone, it's estimated about 500,000 Canadians will miss work due to their mental health condition.