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Wall Street sinks as Amazon, Alphabet earnings spark growth concerns
29 October 2018, 06:36 | Vera Richards
Futures Slump on Global Riskoff Sentiment; Caterpillar Weighs
There have also been disappointing quarterly earnings from several big-name companies, worldwide condemnation of Saudi Arabia - a major oil producer - over the killing of journalist Jamal Khashoggi, and concerns that the US-China trade war is causing the global economy to slow down.
The Dow Jones fell 606 points or 2.4 percent to 24,583, while the S&P 500 had its sixth consecutive losing session, dropping 84.59 points or 3.1 percent to 2,656. The Dow Jones Industrial Average dropped one.two percent to 24,688.
The Nasdaq Composite was up 140.58 points, or 1.98 percent, at 7,248.99.
Google-parent Alphabet sank 4 percent after its revenue missed estimates, fanning concerns that regulatory scrutiny and competition would throttle its scorching pace of growth.
The benchmark S&P 500 index in the U.S. slid more than 1.7%, closing down nearly 10% from its September high. The stock fell as much as 5.6 per cent before recovering to end down just 1.8 per cent. Semiconductor maker Tokyo Electron lost 4.3 per cent and Taiwan Semiconductor Manufacturing Co. dropped 4.4 per cent.
A three-week slide has left the benchmark S&P 500 index on track for its worst month since February 2009, right before the stock market hit bottom following the 2008 financial crisis.
Betts delivered food to homeless after Game 2 in Boston
Rodriguez will look to lead the Red Sox to a commanding 3-1 lead in the Fall Classic. "But we're ready to come back tomorrow". Nunez made a dive into first base and jarred himself as Alexander's throw went wild, scoring Holt with the go-ahead run .
ENERGY: Benchmark U.S. crude fell 0.7 per cent to $66.88 a barrel in NY.
The Nasdaq dropped 151 points, or 2.1 percent, to 7,167.
The beaten-down S&P technology sector retreated another 4.4 percent.
Technology stocks and media and communications companies accounted for most of the selling. The British FTSE 100 rose 0.6 percent, although WPP, the world's largest advertising company, said its business slowed in the third quarter and warned about weaker annual earnings.
Toyota Motor Corp. gave up 2.1 percent while Hong Kong-based retail supply chain giant Li & Fung Ltd. lost 2 percent. "Our forecast is therefore for the S&P 500 to drop by a total of about 15 percent from its recent peak". Bond prices rose, sending yields lower, as investors seek less risky assets.
ENCOURAGING ESTIMATE: The Commerce Department said the US economy's gross domestic product, a measure of total output of goods and services, grew at a robust annual rate of 3.5 percent in the July-September quarter.
Who is Jamal Khashoggi?
Trump visited the kingdom on his first overseas trip as president and has touted US arms sales to Saudi Arabia . Trump said he had spoken with King Salman of Saudi Arabia, who denied any knowledge of Khashoggi.
Elsewhere in Asia, South Korea's stock exchange fell 2 percent.
Energy stocks fell 3.50 percent, the most among the sectors, as oil prices plunged after Saudi Arabia said it could supply more crude quickly if needed, easing concerns ahead of USA sanctions on Iran.
As selling in stock markets abated, other markets also regained equilibrium.
Futures markets are pointing to falls of more than 2% on the ASX today. Brent crude, used to price worldwide oils, declined 72 cents to $75.45 a barrel.
Major equity indexes in the US started the day on the back foot and extended their slide before staging an unimpressive recovery in the second half of the session.
The dollar weakened to 112.08 yen from 112.23 yen.
Apple May Lean on iPhone XR to Juice Sales
The iPhone XR will be available starting October 26, and despite being late to the game it could be the biggest hit of the season. To turn off your iPhone X , XS, or XR, press and hold down on the power button and the volume up button at the same time .
Prince Harry and Meghan given royal treatment in Melbourne
And if you'd rather make like the koala, don't worry - this is the last time you'll hear about the royals from Junkee this week. Prince Harry , Duke of Sussex and Meghan, Duchess of Sussex attend a function at Government House in Melbourne , Australia.
Netflix shares surge on positive subscriber news
That suggests Netflix may have to issue more debt to fund its ambitious plans around original content and global expansion. While Netflix blamed the poor quarter on bad forecasting, the company's actions suggested programming was a factor.
French finance minister cancels trip to Saudi conference
A New York Times report , citing witnesses and other records, linked four suspects to Prince Mohammed's security detail. Saudi authorities, meanwhile, have said Khashoggi left the consulate without being harmed shortly after he arrived.
Poker Players Go Wild For $1.6 Billion Mega Millions Jackpot
With more than $1.5 billion, an exceedingly generous victor could shower roughly $307 on each of the state's five million people. The six winning numbers were printed on a ticket sold at the store off Lee Vaughn Road, about a 6.5km drive from city hall.
Caravan of migrants break Guatemala border fence, rush Mexico
Bush deployed the National Guard to assist in border security operations in 2006 and President Barack Obama did the same in 2010. In a series of tweets, Trump blamed Democrats, leaders of Central American countries and "existing weak laws" for the influx.