Tech giants slide, pulling US stock market sharply lower
15 November, 2018, 08:31
Stock trading turned jittery again after two weeks of gains, pulling the Dow Jones Industrial Average down 600 points.
Hong Kong's Hang Seng gained 0.2 percent to 25,706.88, while India's Sensex retreated 0.2 percent to 34,747.01.
In Canada, Toronto's TSX lost 0.19% to trade around 15,128.
With yesterday's losses, all three indexes erased the gains from their brief rally after the United States congressional elections on November 6.
A steep drop in technology companies sent USA stocks sharply lower, knocking off more than 400 points from the Dow Jones Industrial Average.
The stock market was coming off a two-week winning streak for the benchmark S&P 500. The Nasdaq Composite Index dropped 206.03 points, or 2.78 percent, to 7,200.87.
Financial shares were also lower.
The S&P 500 index fell 46 points, or 1.7 percent to 2,734.
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Treasury secretary Steve Mnuchin and Chinese Vice Premier Liu He have kicked off negotiations about a possible trade pact ahead of the G20 summit in Argentina where President Donald Trump and President Xi are to meet.
Canada's main stock index also fell on Monday, weighed by losses in shares of precious metal miners as gold prices hit its lowest in a month. Brent crude, used to price global oils, lost 81 cents to $69.33 in London. The Dow Jones industrial average was down 602.12 points or 2.3 per cent to 25,387.18.
Declining issues outnumbered advancing ones on the NYSE by a 2.80-to-1 ratio; on Nasdaq, a 3.64-to-1 ratio favoured decliners.
In Asian markets on Monday, China's Shanghai Composite rose 1.2 percent.
Apple shares fell 5 percent after several suppliers to the company, including Lumentum Holdings Inc, whose components power the iPhone's Face ID technology, cut their forecasts.
After hours, Apple stock nudged 0.2% higher, however.
FINANCIALS SLIDE: Banks and other financial companies also took heavy losses. Alphabet's Google (NASDAQ:GOOGL) fell 2.57%.
"We're kind of back to square one: It must feel like November 2016 to them, a lot", said John Kilduff, a Partner at Again Capital Management in NY, refering to the time period when OPEC and its allies agreed to initiate production cuts. Germany's DAX lost 1.8 percent and France's CAC 40 fell 0.9 percent.
"The bull market is not over, the economic expansion is not over, but things are starting to wind down, " said Randy Frederick, vice president of trading derivatives at Charles Schwab.
But some journalists - concerned about which reporter might be targeted next - have been calling for action to match the words. Her question was about the widespread concerns that Trump's rhetoric emboldens white nationalists.
The rebels have since been driven out of virtually all of the south and much of the Red Sea coast, with the exception of Hodeida . The UN World Food Programme said its silos remain intact "despite having been targeted by more than 50 shells in recent days".
By early Wednesday, another 1,100 migrants from the third and last caravan had also arrived at the stadium. The caravan is now in western Mexico, with most of the migrants appearing to be headed toward Tijuana.
Two substitutes combined for a second, Munir El Haddadi laying on Vidal but no sooner had the comeback begun again, it was halted. Gio LO CELSO also scored, his was a shot which goalkeeper TER STEGEN tried to catch but it went through the hands of the German.
Several other federal district courts have likewise issued injunctions required the government to maintain the DACA program. Trump's attempt to rescind the program was also initially blocked by judges from lower courts in Washington D.C. and NY .
In a statement , the QPS said "investigations were still ongoing" and urged anyone with any other information to get in touch. Her arrest follows a complex investigation into the alleged contamination of strawberries in Queensland in September.
Meanwhile, The New York Times is reporting that the kill team sent from Riyadh phoned home after the hit, saying "tell your boss". The kingdom insists that the heir to the Saudi throne was oblivious to the plot to kill Khashoggi and the botched cover-up.
Marvel co-creator Stan Lee dies at 95
This is my favorite Stan Lee story.at least without The Thing in it. "There will never be another Stan Lee ". If he was done, why not go out doing his own thing? The Fantastic Four fought with each other.
US analysts locate secret North Korean missile sites
CSIS said that while these were operating bases and not launch sites, they could be used as launch sites if necessary. The base "conceals seven lengthy tunnels that can accommodate up to 18 transporters that move the missiles".
Dems urge Florida to break vote-count deadline
Nelson on Tuesday also renewed Democratic calls for Scott to recuse himself from any official duties related to the recount. Much of the trouble centers on the Democratic stronghold of Palm Beach County, where tallying machines have overheated .
Jimmy Butler says he'll fit in easily with Philadelphia 76ers
During his media availability, the four-time All-Star noted that his ultimate goal with the team is winning a championship. I don't think there's too many of them that will tell you I'm a bad teammate but people get whatever they want to say out.
More heavy rain for Tuesday
At the moment, there is very little signal for wintry conditions, with any snow more likely to be confined to higher ground'. Saturday night , the temperature will drop back down to around 24 degrees with a 40% chance of snow showers overnight.
Rain stops Pakistan-New Zealand ODI in Dubai
On the match front, Pakistan's hopes of registering their long-awaited ODI series win over New Zealand were washed away by rain. Taylor hit three boundaries and a six for his 43rd half century in one-day internationals.
All Blacks beat England by one point in controversial finish
Courtney Lawes charged down TJ Perenara's box-kick, Underhill collected and raced away, dummying Barrett on his way to the line. Japan is playing England this weekend for the first time since the so-called amateur era. "It's a familiarisation.
No. 4 Duke faces Army in home opener
Army did everything it could to stay close with Duke on Veterans Day, but in the end the Blue Devils had too much talent. They didn't back down against a preseason Final Four favorite, and were very much in the game until the final 10 minutes.
Federer crashes to Nishikori in ATP Finals opener
The ATP Finals is one of the wealthiest tournaments on the tour in terms of prize money and on a par with the Grand Slams. It's just that practice has been a bit all over the place, [at] Queen's, on the outside courts here, then centre as well.
Alibaba Singles' Day tops $30bn but growth rate plunges
With sales dwarfing those of Black Friday and Cyber Monday in the USA , the festival has become the largest of its kind globally. First popularized by college students, November 11 emerged as an antidote to the sentimentality of Valentine's Day.