Major stock indexes lose 10 percent in two weeks amid correction
02:56, Feb 10, 2018
Copyright 2015 All rights reserved. This material can't be published, transferred, copied or redistributed.
"You continue to have investors rerating stocks based on higher inflation and higher interest rate expectations", said Michael Arone, chief investment strategist at State Street Global Advisors in Boston.
U.S. stocks rebounded in late-afternoon trading on Friday, but remained on track to record their worst week since 2009. The Nasdaq shed 274.82 points, or 3.90, to close at 6,777.16.
Gains in industrial and consumer discretionary stocks led advances on the S&P as well as the Dow. South Korea's Kospi had declined 1.5 percent.
By midday it was up 30 points, or 0.2 percent, at 24,395.
The losses, which began last Friday, put the benchmark Standard & Poor's 500 index nearly 8 percent below the record high it set two weeks ago.
Amid continued volatility and worries about rising interest rates, the S&P 500 and Dow Jones Industrial Average both entered correction territory on Thursday-closing down 10% from the all-time highs that each hit roughly two weeks earlier.
The market, now in its second-longest bull run of all time, had not seen a correction for two years, an unusually long time.
Several factors are contributing to the return of neck-wrenching volatility this week after years of absence in the market.
Traders work on the floor of the New York Stock Exchange, (NYSE) in New York, U.S., February 6, 2018.
But economic experts are cautioning investors to avoid selling. Gainers included technology companies, retailers like Amazon and Home Depot, and industrial companies and banks.
GOOGLEFTSE 100 price The FTSE 100 in the UK took a battering today
That would be a "Black Monday"-sized drop, which happened on October 19, 1987".
All US stock market indexes were down when they closed amid a volatile trading week that some analysts say could be on pace to match the 2008 financial crisis.
On Thursday, the 10-year US Treasury note yield rose as high as 2.884 percent, nearing Monday's four-year peak of 2.885 percent, after the Bank of England said interest rates probably needed to rise sooner than previously expected.
It is the second-worst fall in history, eclipsed only by Monday's 1,175-point plunge.
Corrections are seen as entirely normal during bull markets, and even helpful in curbing excessive gains and allowing new investors to buy into the market at lower prices.
USA stocks swooned Friday and Monday as investors anxious that accelerating inflation and higher interest rates could derail the market's record-setting rally.
In currency markets, the Canadian dollar closed at an average trading value of 79.46 cents USA, down 0.25 of a U.S. cent.
In Toronto, the S&P/TSX composite index was down 264.97 points, or 1.73 per cent, to 15,065.61, in a broad-based decline.
In currency markets, the dollar edged up to 108.87 yen from Thursday's 108.84 yen. All three had dropped around 2 percent the day before.
On Monday, the Dow finished down 4.6 percent, the biggest decline in percentage terms since August 2011, when investors were fretting over Europe's debt crisis and the debt ceiling impasse in Washington that prompted a US credit rating downgrade.
While the Pistons are likely to part ways with Nelson after the season, there may have been a longer-term plan in place for Ennis. James Ennis , who was also acquired by the Pistons, will not be available after getting stuck in bad weather today.
Now, he has locked in a strong point-spread pick for Cavaliers-Pistons, and you can only see it over at SportsLine. The spread opened with Cleveland as a 2-point fave before climbing, while the over-under has remained steady.
Security has been beefed up around government and non-governmental establishments across the country ahead of the verdict. The Court also awarded Khaleda Zia's son Tarique Rahman 10 years in jail for aiding her mother in the embezzlement.
Police said the church members had been gathering at the pastor's home every day as part of a 40-day pledge. A 61-year-old man is dead after he was stabbed during a church service inside a home Wednesday night.
Central Asset Investments & Management Holdings Hk Ltd acquired 11.56 million shares as Nvidia Corp (NVDA)'s stock rose 26.83%. The firm owned 77,804,770 shares of the company's stock after buying an additional 899,661 shares during the period.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. The firm has total debt to equity ratio measured as 0.28. 3,166 are owned by Northstar Group Incorporated.
The secretary would have access to two computer systems, one classified and the other unclassified, the former official said. But, a year into his job, Porter did not have the permanent security clearance that aides of his rank always have.
The military said Saturday's deaths were related to Turkey's operation against Syrian Kurdish-held Afrin, codenamed Olive Branch. Since then, Syrian government forces have captured wide parts of the country and in recent weeks have been marching in Idlib.
Turkish soldier killed in Syria's Afrin
Turkish forces were deployed in the Tall Tukan town of the Abu Zuhur province, in the southeastern Idlib de-escalation zone. On Jan.20, Turkey launched Operation Olive Branch to remove PYD/PKK and Daesh terrorist groups from Afrin.
The Future of Windows Could Be Passwordless
While there are some exciting improvements to the system graphics, the company also unveiled some privacy and security changes. Tickets for the Build conference are likely to be sold out soon after Microsoft will open the registration window next week.
Alphabet rolls its Nest smart-home unit back into Google
The move aims to make it easier for Google to add artificial intelligence software like Assistant into new Nest products. Fawaz told CNet that Nest has shipped more than 11 million products since 2011, when its first thermostat went on sale.
Barcelona Striker Linked with Chelsea
Conte himself has nearly dared Blues owner Roman Abramovich to sack him, with the Italian determined not to resign. Leicester has done it in the past, so have Manchester United , Liverpool and Manchester City .
Gary Woodland beats Chez Reavie in Phoenix Open playoff
He has made a lot of money the past couple of years on the tour. "He's a miracle, and I'm just happy to be here right now". Woodland finally grew emotional in the press tent after the tourney when discussing why he pointed to the sky.
It's Girl Scout cookie time again
Should we became aware that a girl has repeated an infraction, there could be consequences, determined on a case-by-case basis. Since the use of recreational marijuana became legal in California on January 1, Senn said it is rapidly becoming accepted.
End of an era: Best Buy to stop selling CDs
There's large ramifications here, mostly in factoring where consumers where buy their CDs, if they will at all. Target used to carry more than 800 CD titles, but seems to have reduced its stock to less than 100 titles.
Zero Tolerance for Female Genital Mutilation in EU
Kenya, however, has seen a backlash as a doctor pushes for continuing the practice as part of "heritage" in a court bid. Fifty-year-old Rahma Wako is an activist working to eradicate FGM , 16 years after Kenya banned the practice.
Pentagon Announces Major Shift In US Nuclear Policy
Critics worry the new weapons would make the USA more likely to use nuclear force and, hence, feed a nuclear arms race. Supporters argue that the opposite is the case. "There are no good nukes and no such thing as a limited nuclear war".
France sends police as migrant gangs clash in Calais
Some 9,000 migrants lived in the infamous " Jungle " makeshift camp in Calais before authorities dismantled it in October 2016. The confrontation is the worst since July 2017 when ethnic tensions boiled over, leaving 16 people injured.