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prensaestatal.com Febrero 19, 2018


Stock losses deepen in midday trading

10 Febrero 2018, 12:01 | Dolorita Barahona

GETTYAnalysts expect the Dow Jones to fall heavily on opening

GETTYAnalysts expect the Dow Jones to fall heavily on opening

Asian stock markets endured another disappointing session in general, with Hong Kong's Hang Seng down 0.9 per cent at 30,323.30 while Japan's Nikkei 225 stock average closed up 0.2 per cent at 21,645.37. American Express and Intel were the two biggest losers on the Dow. South Korea's Kospi had declined 1.5 percent.

US President Donald Trump, who has repeatedly praised Wall Street gains during his first year in office, on Wednesday dismissed recent market rout, saying stocks should not be falling amid strong economic news. The Dow dropped 1,032 points, or about 4.2 percent, to close at 23,860 - the second time it has lost more than 1,000 points over the past week. While U.S. companies mostly did well at the end of 2017, a number of them had a weak finish to the year.

At Thursday's opening bell, it bounced from positive to negative, then headed down sharply. The Nasdaq climbed 148, or 2.1 percent, to 7,115.

The drop comes on the heels of a similar plunge Monday that erased the stock market's gains for the year.

Stocks are sinking again Thursday, extending a streak of losses that has yanked the market away from record highs. The Dow moved in a range of more than 1,000 points.

Wall Street has failed to stage a lasting rebound from Monday, when fears about the bond market sent the Dow plunging a record 1,175 points. The Nasdaq composite index was down 274.82 points, or 3.90 per cent, to 6,777.16.

The historic drop also erased the index's gains for the year.

A weaker pound tends to support the FTSE 100, whose companies rely on overseas markets for around three-quarters of their earnings.

On Monday, the Dow finished down 4.6 percent while the S&P 500 sank 4.1 percent. If bond yields start to rise, investors will want to take some of their money out of stocks and put it into safer bonds.

He did keep an eye on the market's performance during his congressional testimony Tuesday morning.

Do you think Dow Jones volatility can mirror that of cryptocurrency markets? "It is now up 187 points so we are back up today". But, he says, there are still valid concerns weighing on the market. "The fundamentals in terms of the long term are very strong".

As a result of this continuing volatility at the Wall Street, the euro has risen against the U.S. dollar.

Well, sort of. Typically, market watchers rely on the S&P 500 index to gauge the health of the broad USA market instead of the 30 stocks in the Dow.

The wild swings Tuesday marked the third day of volatility in global markets.

Oil sank as record-high USA crude output added to concerns about a sharp rise in global supplies. Microsoft lost 2.3 percent. Brent crude, the global standard for oil prices, gave up 70 cents, or 1.1 percent, to $64.81 per barrel in London.

US stock markets fell sharply Thursday, with the Dow Jones industrial average tumbling 1,033 points, or 4 percent, to 23,860. The fourth biggest drop came on September 17, 2001, the first day of trading after the 9/11 terror attacks.

Bond prices recovered most of an early loss, sending yields slightly higher.

The dread that gripped equity markets earlier in the week re-emerged Thursday as USA stocks plunged on concerns that rising interest rates will drag down economic growth.

Among stocks, Walt Disney was up 1.9 percent in premarket trading after the media company's quarterly profit topped forecasts.

The benchmark Standard & Poor's 500 index is now down 8 percent from the record high it set January 26.

The pan-European FTSEurofirst 300 index lost 1.66 percent and MSCI's gauge of stocks across the globe shed 1.32 percent.



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