Markets Right Now: Stocks turn jittery again, Dow sinks 500

Markets Right Now: Stocks turn jittery again, Dow sinks 500

The falls came on the back of doubts of a trade deal being reached between the United States and China.

Stocks took a tumble Tuesday as the Dow Jones Industrial Average fell almost 800 points amid renewed fears regarding the U.S.

The sharp drop in yields hurt banks because it makes it harder to earn money from lending.

Financial shares .SPSY , which are particularly sensitive to bond market swings, dropped 4.4 percent. The S&P 500 index closed at 2,700, down 90 points or 3.24 percent. The Nasdaq composite lost 3.8 percent to 7,158.43.

Stocks are turning sharply lower on Wall Street as trading turns jittery again, erasing 500 points from the Dow Jones Industrial Average.

European markets closed lower yesterday: London's FTSE fell 0.6per cent, Paris dropped 0.8 per cent and Frankfurt shed 1.1 per cent.

The S&P 500 lost 63 points, or 2.3 percent, to 2,727. Eastern Time. The Dow plunged 730 points, or 2.8 percent, to 25,095, more than erasing its 488-point gain over the previous two trading days.

The trade-sensitive industrial sector .SPLRCI fell 4.4 percent, with Boeing BA.N and Caterpillar CAT.N declining 4.9 percent and 6.9 percent, respectively.

The jitters helped drive demand for government bonds Tuesday, pushing prices higher. The spread between the 10-year yield over its two-year counterpart also shrank to the smallest in over a decade, a closely watched signal because a so-called yield curve "inversion", when the two-year yields more than the 10-year bond, preceded all the recessions of the past 50 years.

The sell-off came ahead of Wednesday's closure of US stock and bond markets in observance of a national day of mourning for former President George H.W. Bush.

Bank of America fell 5.1 percent.

Defensive Utilities .SPLRCU eked out a 0.2 percent gain, the only one of the 11 major S&P 500 sectors in positive territory.

The Dow lost 536 points, or 2.1 percent, to 25,292.

A day after global stocks rallied on a weekend US-China announcement suspending new tariffs, global markets mostly pulled back as investor focus shifted to the murkiness over what was agreed to and the difficulty reaching resolution to disputes on thorny matters such as intellectual property.

Technology companies, banks and industrial stocks accounted for much of the broad sell-off.

Apple lost 4.4 percent to $176.69 after the consumer electronics giant was downgraded by HSBC analysts, citing the possibility that iPhone volume and value growth may moderate due to a saturated mobile phone market. Japan's Nikkei 225 index gave up 2.4 percent and the Kospi in South Korea lost 0.8 percent.

The Toronto Stock Exchange's S&P/TSX composite index was down 197.31 points, or 1.29 per cent, at 15,077.67.

Yields on two-year and three-year bonds held above the five-year yield for a second day, while the benchmark 10-year yield hit its lowest since mid-September as demand for longer-dated Treasuries rose on bets of an approaching economic slowdown.

Stocks are opening lower on Wall Street, led by losses in technology companies and banks.

Apple lost 1.7 per cent early Tuesday and Bank of America was down 1.3 per cent.

Discount retail chain Dollar General slid 8.2 per cent to $102.54 after the company reported weak quarterly results. Toll's shares rose 0.4 per cent to $33.67, recovering from a morning sell-off.

Bond prices rose. The yield on the 10-year Treasury fell to 2.95 percent.

Related News:

  • Chrissy Teigen Reveals Why Her Son Needs Corrective Helmet

    Chrissy Teigen Reveals Why Her Son Needs Corrective Helmet

    Also on Monday, Teigen shared a sweet video of her dancing and singing along to "A Whole New World" with her daughter. Also your flat headed kid turned out fine yes yes yes I agree".

    Drake is most-streamed artist in 2018 on Apple Music and Spotify

    Ariana Grande was the most-streamed female artist, but no female artist made it among the top five-streamed artists this year. His album "Beerbongs & Bentleys" was the second-most streamed followed by Cardi B's, the late XXXTentacion and Travis Scott.
    House Republican emails were hacked during 2018 midterms

    House Republican emails were hacked during 2018 midterms

    The NRCC quickly established an internal investigation and notified the FBI of the incident, however, senior members of the Republican Party were kept in the dark.
  • Australian Teenager Oliver Davies Smashes Six Sixes in an Over

    Australian Teenager Oliver Davies Smashes Six Sixes in an Over

    Davies, leading his side, got to his hundred in 74 balls, and then went berserk reaching his next hundred in just 39 balls. With the help of the skipper's record-setting double century, NSW Metro won the match by a huge margin of 168 runs.
    Manchester United have €103 million bid rejected for Kalidou Koulibaly

    Manchester United have €103 million bid rejected for Kalidou Koulibaly

    The United manager first snapped at the interviewer for asking him about the 2-2 draw against Southampton. According to the Daily Record , United's manager said: "You don't play".
    Washington claimed Foster but won't sign Kaepernick

    Washington claimed Foster but won't sign Kaepernick

    At one point in the game, Sanchez was flushed from the pocket and took off running, only to fumble after barely being touched. But according to coach Jay Gruden , the team won't sign former 49ers quarterback Colin Kaepernick .
  • This Language App Is Google's Pick for Best App of 2018

    This Language App Is Google's Pick for Best App of 2018

    The apps would apparently detect new app installations on a user's device and claim the credit for driving said installations. Google finally took action after eight Cheetah Mobile and Kika Tech apps were allegedly involved in ad fraud last week.
    Bengals placing A.J. Green (toe) on IR

    Bengals placing A.J. Green (toe) on IR

    Lindsay also became the first undrafted rookie in Broncos history to top 1,000 combined yards rushing and receiving in a season. The Bengals put 12 players on IR before December 1 the last three years combined.
    Trump and Xi agreement buys time in trade war

    Trump and Xi agreement buys time in trade war

    On Monday, China's ministry of foreign affairs said the Chinese and US presidents had agreed to work towards removing all tariffs. The tariffs stem from the Trump administration's demands that China make sweeping changes to its intellectual property practices.
  • Lamar Jackson has another strong outing, and the Ravens have a choice

    Lamar Jackson has another strong outing, and the Ravens have a choice

    Beasley punctuated the score by slam dunking the ball over the goalpost, thus incurring an unsportsmanlike conduct penalty. Jackson finished 12-of-21 for 125 yards passing and ran 17 times for 75 yards.
    New Qualcomm chipset to be called Snapdragon 855 and manufactured by TSMC

    New Qualcomm chipset to be called Snapdragon 855 and manufactured by TSMC

    More information on the Snapdragon 855 should be released over the next few days during the Snapdragon Technology Summit . Qualcomm has revealed its first 5G solution for next-gen smartphones and more, the Snapdragon 855 Mobile Platform.
    Kylian Mbappe wins Kopa award at Ballon d'Or ceremony

    Kylian Mbappe wins Kopa award at Ballon d'Or ceremony

    The 19-year-old Paris Saint-Germain forward enjoyed a successful time with club and country last season. And it's an extra motivation to keep working. "It will be with hard work and help from my team-mates".

Most liked

Jeffrey Epstein: Wealthy sex offender settles suit, averting victim testimony
It would have given Epstein's accusers the chance to finally confront Epstein in court and detail their allegations against him. Because of the settlement, which included an apology from Epstein and the payment of an undisclosed sum, that won't happen.

Biggest ever black hole collision is detected by scientists
The event occurred about nine billion light years away, and formed a new black hole about 80 times larger than the Sun. The researchers detected the collisions after re-analyzing the gravitational wave data obtained by the LIGO.

7.6 quake hits near New Caledonia, hazardous tsunami waves possible
This advisory has been issued to all local Civil Defence authorities, emergency services, other agencies and media. It spreads across 40,000km (25,000 miles) from the southern tip of South America all the way to New Zealand.

Mohammad Hafeez retires from Test cricket
I feel honoured that I represented the country in 55 Test matches including the opportunity of captaining the team. Thank you very much to Pakistan Cricket Board (PCB), they helped me in each and every step of my career.

Former D-back Patrick Corbin agrees to 6-year deal with Nationals
Philadelphia might be willing to give Corbin his biggest offer since the team is seemingly ready to outspend everyone this winter. Nightengale tweeted that Corbin will get at least a six-year, $125 million contract according to several executives.

Australia axe Mitchell Marsh as Usman Khawaja returns against India
But we are not very much focused on it. "When it comes to fast bowling, this is probably one of the best fast bowling attacks we have in many years".

Gautam Gambhir announces retirement: Is a political innings in the offing?
Recalling his most affectionate time, Gambhir said: "Two world cups and highest run-getter in the final of both these games". The left-handed batsman was part of the winning squads in the 2007 T20 World Cup and the 2011 50-over World Cup.

Body found in Costa Rica identified as missing Miami woman, authorities said
She left the day before her sister-in-law and told CBS News "it seemed so safe" when they were together. According to Gardner, Stefaniak texted her family updates and photos throughout the late afternoon.

Trump wants to discuss end to ‘uncontrollable arms race’ with China, Russia
This came after he emphasized that US-China relations have taken a big leap forward, referring to his meeting with President Xi in Argentina.

Spurs fan arrested after banana skin thrown onto Arsenal pitch
A banana was thrown onto the pitch from the away end during the subsequent celebrations . "Their players approached us". At the moment, I don't know if he can play in Manchester.

OSU heading to Rose Bowl
This will be Washington's 15th appearance in the Rose Bowl, dating back to 1924. In all, it is Mississippi State's 22nd all-time bowl appearance.

Ted Baker staff complain of ‘forced hugs’ by company founder
Although complaints have been brushed off in the past, the brand promises "a thorough independent investigation is carried out". Ted Baker is also having to cope with the fallout of the collapse of House of Fraser, where it has a string of concessions.

Buccaneers offering season pass holders free seats against Panthers
Multiple reports out of Tampa indicate Jackson is out for the season and his career with the Buccaneers is likely over. In addition to being sacked four times, the Bucs hit him as he delivered the ball on his past two interceptions.

Townsend brilliance helps Palace clinch overdue win to increase Burnley’s worries
The winger latched on to Cheikhou Kouyate's lofted ball forward into the right channel and then cut inside on his left foot. With the win, their first at home this season, Palace move up to 15th place and have 12 points.

Michael Avenatti rules out 2020 bid
Avenatti, however, slipped and lost his grip and she used the opportunity to send texts to a friend, according to the documents. Miniutti was granted a restraining order after accusing Avenatti of dragging her by the arm across a bedroom floor.