AUSTRALIAN shares have again slid in early trade following a fresh plunge on Wall Street overnight, while the Aussie dollar has retreated below the 78 USA cents level.
Other stocks that have struggled this week include 3M, American Express and Exxon Mobil, down more than 10 percent as oil prices continue to slide.
The jitters have been driven by the rapid rise in 10-year Treasury yields. Still, traders are bracing for moremarketvolatility, wondering if the Fed will hike rates more than three times this year, the current target.
"Since the financial crisis, this is the first 10 percent correction in stocks that has not been accompanied by a significant fall in rates".
As we noted Wednesday, however, tech stocks fell more than the broader market and some analysts have pointed to these market leaders - Alphabet (GOOGL), Facebook (FB), Microsoft (MSFT), Amazon (AMZN), and Apple (AAPL) - as potential indicators of markets having not yet worked out all the stress inflicted in the 8% S&P 500 decline that happened in just a handful of trading days.
Monday's drop of 1,175 points was the Dow's worst day ever (in points terms), far exceeding the index's previous record drop of 777, set on 29 September, 2008. It was up as much as 349 in early trading. The Nasdaq was down 125 points, or 1.8 percent, to 6,651.
Rising U.S. debt issuance is expected to weigh on bond prices in coming months. On the week, the dollar index gained 1.41 percent for its best week in nearly 15 months.
The April gold contract was down US$3.30 to US$1,315.70 an ounce and the March copper contract was down five cents to US$3.03 a pound.
The benchmark FTSE 100 share index fell 35.51 points, or 0.5%, to 7,135.18.
Crude oil prices have also retreated during the market turmoil. The yield on the 10-year Treasury note was unchanged at 2.83 percent.
Also contributing to the big swings this week was the blow-up of exchange-traded products that were built to profit if markets remained calm. Tokyo's Nikkei 225 lost 2.3 percent and Hong Kong's Hang Seng gave up 3.1 percent.
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I don't think Arsene Wenger can play the same tactics that stifle us as other lower table teams have done this season at Wembley . A win here will take them to only a point off their north London rivals and back in the race for a top-four spot.
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When you have someone step out of line like the Patriots have done, it's going to come back to get you. "There was no persuasion". With that Ballard left the podium, leaving reporters and viewers to ponder the rekindling of the Colts-Patriots rivalry.
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It also provides a massive US$90 billion disaster relief package and funding to address the nationwide opioid abuse crisis. Only 73 Democrats voted for the measure; 67 Republicans voted against it.
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Rand Paul , a conservative Kentucky Republican and one-time presidential contender, to trigger a partial government shutdown. Paul said all he wanted was a vote on an amendment to restore the budget caps, set in 2011 to rein in deficit spending.
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More to the point, however, is that YouTube is acknowledging Paul's antics might have negative effects well outside his channel. Early Friday morning, YouTube announced on Twitter it would "temporarily" cut Logan Paul off from video ad revenue .