Dow plunges more than 600 points, Nasdaq enters a correction

Twitter rose 18.6 percent after strong ad sales boosted third-quarter profit, while Comcast gained 18.6 percent after the media company's quarterly results beat Wall Street estimates.

The Nasdaq experienced its worst day since August 18, 2011, falling 329 points, or 4.4 percent to 7,108, 10 percent from its August 29 all-time high.

Another torrent of selling gripped Wall Street Wednesday, sending the Dow Jones Industrial Average plummeting more than 600 points and extending a losing streak for the benchmark S&P 500 index to a sixth day.

Nasdaq futures (NQcv1) fell 0.8 percent and S&P futures (EScv1) lost 0.5 percent, suggesting the US stock market may see more selling when it opens on Friday.

Japan's Nikkei index was down 3.3 percent at opening, shedding more than 700 points, while Hong Kong's Hang Seng index dropped by almost two percent. Shares of Alphabet, the parent company of Google, fell more than 2 percent after its revenue growth also missed expectations.

For the S&P 500, a 10 percent decline could push the United States index into correction territory.

The Dow and the S&P 500 both returned to negative territory for the year.

The Russell 2000 is down 73.34 points, or 4.8 percent.

The benchmark S&P 500 index in the United States is down more than 1.5%, falling nearly 10% from its peak set earlier in October.

The Dow Jones Industrial Average sank more than 300 points Friday, or 1.4 percent, putting it in the red for the year again.

Shares of Caterpillar tumbled 7.6 percent after the heavy-equipment maker maintained its 2018 earnings forecast, following forecast increases in the previous two quarters.

The S&P 500 rose 61 points, or 2.3 percent, to 2,717.

Market favorites like technology and consumer-focused companies have borne the brunt of the sell-off. Britain's FTSE 100 was flat at 6,960, underperforming after poor earnings from ad giant WPP. By mid-morning it was down 2.9 per cent at 21,443.72.

Texas Instruments fell 8.2 percent to $92.01 after the chipmaker delivered quarterly results that fell short of Wall Street's forecasts, noting that demand across most markets is slowing.

The Dow fell 474 points, or 1.9 percent, to 24,494.

The benchmark index is now 9.3 percent below the peak it reached in September.

Investors may also be signaling their concern that interest rate hikes by the Federal Reserve will dampen US economic growth, according to Capital Economics. Brent crude, used to price global oils, declined 72 cents to $75.45 a barrel. Five of the six most valuable United States companies recently suffered a correction: Amazon, Microsoft, Alphabet, Berkshire Hathaway and Facebook are all down sharply from their recent highs, although some of those declines began this summer. Hong Kong's Hang Seng sank 1.1 per cent.

The dollar weakened to 112.08 yen from 112.23 yen.


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