Stocks Slammed! Dow Plunges More Than 600 Points

Stocks slide as 3M and Caterpillar warn of trouble

The tech-rich Nasdaq Composite Index jumped 209.94 points (2.95 per cent) to 7,318.34, a day after the index suffered its biggest decline in seven years.

Results from S&P 500 companies have pushed up third-quarter profit growth estimates to 23.6 percent from 21.8 percent in the last 10 days.

The Dow Jones Industrial Average lost 2.4 per cent to close at 24,583.42, a single day loss of more than 600 points.

A turbulent day on Wall Street ended Tuesday with stocks climbing almost all the way out of a steep, broad sell-off that at one point erased more than 500 points from the Dow Jones Industrial Average.

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.

US stocks declined broadly in early trading Friday, erasing the market's gains from a strong rally a day earlier and putting major indexes back into the red for the year.

A clutch of weak outlook on Wednesday pushed the Nasdaq into correction territory and erased the Dow and the S&P 500's gains for the year.

The Nasdaq is down 340.63 points, or 4.6 per cent. Semiconductor maker Tokyo Electron lost 4 percent and Taiwan Semiconductor Manufacturing Co. dropped 4.4 percent.

Snap (SNAP.N) slumped 11 percent in extended trade after the Snapchat owner said its number of daily active users fell to 186 million in the third quarter from 188 million in the June quarter, hurt largely by an app redesign and competition from Facebook's Instagram.

Pittsburgh synagogue shooter identified
Tom Wolf said on Twitter that it was a "serious situation", and the Pennsylvania State Police were helping local first responders. Pat Toomey tweeted. "The horrific events that transpired at Tree of Life Synagogue are heartbreaking.

ENERGY: Benchmark U.S. crude fell 0.7 per cent to $66.88 a barrel in NY. The Nasdaq Composite shed 2.2%, and the S&P 500 was down 1.4%.

The Russell 2000 is down 66.81 points, or 4.4 per cent.

Technology stocks and media and communications companies accounted for much of the selling. Australia's S&P/ASX 200 gave up 0.4 percent to 5,640.60.

The S&P 500 energy index fell 2.7 percent, the most of any sector, as oil prices plunged after Saudi Arabia said it could supply more crude quickly if needed. Bond prices continued to rise, sending yields lower. Experts think the country's gross domestic product grew 3.3 percent from July to September, according to FactSet. Amazon sank 7.8 percent to $1,642.81 while Alphabet fell 1.8 percent to $1,083.75.

Major European stock indexes fell.

On Wednesday, data showed sales of new US single-family homes fell to a near two-year low in September, the latest sign that rising mortgage rates and higher prices were hurting demand for housing.

Energy stocks declined despite the pickup in US oil prices.

Investors are also facing the expectation of higher USA interest rates, which would boost borrowing costs for not only United States firms and consumers but also many struggling emerging market economies with dollar-linked debt. Hong Kong's Hang Seng sank 1.1 percent.

The dollar climbed to 112.59 yen from 112.44 yen.

Related News:



Most liked

China leads the way as worlds billionaires get even richer
China created two billionaires each week, while Asia as a whole made three new billionaires per week. And a total 97 per cent of all China's billionaires were self-made.

Syria ordered Gaza rocket fire at Israel with Iran backing: army
Israel rarely acknowledges it has reached a truce with Gaza's militant groups, which it designates as terrorist organisations. The report comes after Egypt and the United Nations exerted pressure on Israel to restore calm between the IDF and Hamas.

Flash flood in Jordan sweeps away school bus, killing at least 18
He also expressed anger toward those who he said "failed to take measures that could have prevented this painful incident". In a message on his Twitter account, the monarch said that "the pain of each father, mother and family is my pain".

Murderers of Saudi reporter must be convicted in Turkey - Erdogan
However, the President did not produce video or audio evidence his government allegedly possessed. It later acknowledged that he had in fact been murdered, as Turkish officials said all along.

Deepika, Ranveer announce wedding date
While the stars are busy with their professional commitment, their parents are constantly helping them with their wedding plans. Akshay Kumar calls Ranveer Singh a "motor mouth" and says "hats off to Deepika for being with Ranveer".

NBC cancels Megyn Kelly's morning show
The network on Friday again aired a repeat of " Megyn Kelly Today " just as it did Thursday following this week's controversy. When Hall learned she was being ousted in 2017 by Kelly, she exited her 9 a.m. slot without a formal farewell.

PTCL 'Going Pink' in October: Breast Cancer Awareness Month
She described it as a very isolating period in her life and never wanted anyone else to experience what she had had to go through. Western Michigan previously honored Breast Cancer Awareness Month with a matte black helmet that included a bright pink logo.

How Long Does Red Dead Redemption 2 Take To Install?
If you are a little patient, you can wait for Black Friday and Cyber Monday which are just a few weeks after the game release. Once you're in first person mode, you can then aim down sights when you have a weapon drawn by pressing down on the d-pad.

It was a 'mistake' not to suspend bomb suspect for threats
Most of those targeted were past or present USA officials, but one was sent to actor Robert De Niro and billionaire George Soros . Television footage of Sayoc in custody showed a muscular man in a sleeveless black shirt with close-cropped black hair.

May and Macron raise Khashoggi's murder in calls to Saudi King Salman
Still, neither Trump nor Saudi Arabia has been willing to implicate Saudi leadership in the journalist's killing. Turkish media quote officials as saying Khashoggi was killed and dismembered in the consulate.

Guide: Red Dead Redemption 2 - How Long Does It Take to Beat?
Microsoft's flagship Xbox One X packs unrivaled horsepower, delivering up to 4K resolution across its enhanced library of titles. Reviews will also naturally only cover the game's single-player portion since Red Dead Online isn't coming until next month.

I couldn't manage another English team, says City boss Guardiola
Many people suffered, and we were lucky. "We went to the arena". "We tried to call her again and it didn't work". It will not be possible to train another club in England like Manchester City ", Guardiola said in an interview.

Jordan Henderson suffers injury setback ahead of Liverpool Champions League tie
I think he would say thanks to his teammates because it's quite hard to score goals without these wonderful passes and crosses. Mohamed Salah of Liverpool scores his team's second goal during the win over Red Star Belgrade at Anfield.

Gunman opens fire at supermarket, 2 dead
Ed Harrell said that he called out to ask the man what was going on as he left the store and he replied: 'Don't shoot me. Other than the victim who was covered with a sheet, it's not clear how seriously injured the other person was.

Al Roker Rips Megyn Kelly for Blackface Remarks on 'Today'
In 2013, while she was still at Fox, she was involved in a heated debate over the ethnicity of Santa Claus. One of the great parts of sitting in this chair each day is getting to discuss different points of view.