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Dow drops by more than 1000 points twice in week
11 February 2018, 01:48 | Megan Pierce
Stock markets were routed around the globe
But if inflation picks up, the Fed could raise rates more often or more steeply than it had planned.
Specialist Michael Pistillo conducts trades in VICI Properties at the closing bell on the floor of the New YorkStock Exchange, Wednesday, Feb. 7, 2018.
"If this is just the implosion of shorting volatility, it's not the end of the bull market", said Michael Antonelli, managing director of institutional sales trading at Robert W. Baird in Milwaukee.
The Dow and S&P 500 capped off their worst weekly performance in two years last week after a stronger-than-expected jobs report sent interest rates higher. The Dow moved almost 500 points during trading on Wednesday before closing down 19 points, or 0.08 per cent, at 24,893.
Regardless of whether the market continues on its downward trajectory - a much more menacing "bear market" looms if stocks fall 20 percent - many analysts said the last two weeks of dramatic drops, rapid rises and followed by more heart-pounding dives have already made a distant memory of the blissful and steady multi-year rise in stocks.
Wall Street anticipates that more government spending will force the Treasury Department to borrow more money by selling additional bonds. It spiked above 50 early on Tuesday.
"We've hit this incredible dose of volatility like nothing we've seen since Brexit", Detrick said.
Treasury Secretary Steven Mnuchin appeared at a previously scheduled hearing on Capitol Hill, where he urged lawmakers to focus on the economy's strong fundamentals.
USA stocks started to tumble last week after the Labor Department said workers' wages grew at a fast rate in January.
ANALYST'S VIEW: "Risk sentiment continues to be wobbly in markets, with USA equities notching a loss at the close, while Brent prices fell sharply to $65 overnight", Mizuho Bank said in a daily commentary.
The Dow closed out a turbulent week with a 330-point rebound Friday but still suffered its biggest weekly loss since January 2016, a tumble highlighted by its first official correction in two years.
Israeli fighter jet crashes under Syrian fire, says military
Israel's leading daily Haaretz reports that Syrian anti-aircraft missiles targeted an Israeli F-16, prompting the pilots to eject. Iranian and Iran-backed Shi'ite forces, including Lebanon's Hezbollah, have deployed widely in support of Assad.
18 killed in Hong Kong bus crash
Among those, according to the Times , 15 were hospitalized in serious condition, and 10 were deemed critical. Li said that the driver had not been under the influence of alcohol and had not needed any medical help.
The Nasdaq composite fell 3.9 percent as Facebook, Amazon and Microsoft all fell at least 4.5 percent. It'll change the complexion of the market. The broader Standard & Poor's 500 stock-index has experienced a similar slide. Prices and yields move in opposite directions, and bond buyers will want a higher yield (and lower price) to make it worth their investment. When bond yields rise, those stocks become less appealing to investors seeking income.
If borrowing costs increase, bond investors will want more return - a higher yield. "The sharp drop in the afternoon seemed to be mainly programmed trading", said Scott Brown, chief economist at Raymond James.
Global markets mostly rose and appeared calmer on Wednesday. Natural gas rose 1 cent to $2.76 per 1,000 cubic feet.
The CAC 40 in France picked up 1.8%. The Japanese Nikkei 225 plunged 4.7%, while the Shanghai composite pulled back 3.4%.
The biggest technology companies fared the worst.
Wynn Resorts climbed about 10% after casino mogul Steve Wynn resigned as chief executive following allegations of sexual misconduct.
"Know what you own, why you own it and not have more than a 4 to 5 percent concentration in any one stock because you expose yourself to undue risk", he said.
He has denied the accusations but said he could not be effective in his corporate positions in the face of those allegations.
While that's good news for workers, it has sparked concerns about inflation.
Newspaper publisher Tronc soared 3.45 dollars, or 19.1%, to 21.55 dollars after it agreed to sell the Los Angeles Times and a group of other newspapers to Dr Patrick Soon-Shiong, a major Tronc shareholder and former board member, for 500 million dollars. U.S. futures fluctuated before falling, while Treasuries steadied and the dollar rose.
Bristol-Myers says lung cancer drug succeeds key trial
Whereas the traders who further want to see about this, may be interested to see Price to next year's EPS that would be 7.81%. It fall, as 48 investors sold Monday shares while 342 reduced holdings. 125 funds opened positions while 344 raised stakes.
Met Office warns of ice and snow
A spokesman said: "A very cold westerly airstream will bring frequent snow showers to many western and central areas on Sunday ". Public Health England (PHE) government forecasters have extended a cold weather health alert until Tuesday.
Cubs, Darvish agree to 6-year deal
His 2017 season showed a slight decline from seasons past, both in Texas and then, after a mid-summer trade, in Los Angeles. He dominated the Cubs in the NLCS, pitching into the seventh and allowing just one run in his lone start in the series.
How a Russian Spy Reportedly Outsmarted US NSA Agents
Instead of providing the hacking tools, the Russian produced unverified and possibly fabricated information involving Mr. The Russian was told by the Americans to leave Western Europe and not return, according to the Times .
Research Report For NVIDIA Corporation (NVDA)
Renaissance Technology Ltd has invested 0% in Boyd Gaming Corporation (NYSE:BYD). 314 were reported by Cranbrook Wealth Mgmt Llc. Aviance Lc has 620 shares for 0.01% of their portfolio. 1,843 were reported by Zurcher Kantonalbank (Zurich Cantonalbank).
Activision Blizzard Reports Retreat In Q4 Bottom Line
The Manufacturers Life Insurance Company boosted its position in Activision Blizzard by 39.0% during the second quarter. Invest Prns Oh Adv stated it has 1.35% of its portfolio in The Home Depot, Inc. (NASDAQ:AAPL) on Tuesday, August 15.
Two Army personnel killed — Sunjuwan attack
Though no militant outfit has claimed responsibility for the attack, the authorities believe Jaish-e-Mohammad is behind it. The major has been airlifted to an Udhampur hospital where his condition was stated to be critical, army officials said .