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Wall Street slides on tech rout, Nasdaq erases 2018 gains

05 April, 2018, 02:03 | Author: Kristi Dunn
  • Trade war with China: What you need to know

Markets were initially spooked as China retaliated to the administration's tariff threats with a slate of tariffs of their own on an estimated $50 billion in imports from the U.S.

US stocks closed sharply higher Wednesday, in the latest example of heavy intraday volatility as investors continued to suss out the likelihood of, or the potential impact from, a trade war between the United States and China.

The Dow Jones industrial surged 389.17 points, or 1.6 percent, to 24,033.36. The S&P 500 index gained 30 points to 2,645, or 1.2%. Boeing Co.'s stock (BA) fell 1%, while heavy-machinery maker Deere & Co.(DE) fell 2.9%.

Amazon and Tesla were among the top drags on Monday, pushing the S&P 500 below its 200-day moving average for the first time since Britain's vote to leave the European Union in June 2016.

Shares of Amazon traded 0.7 percent stronger as of 1.55pm in NY, having fluctuated between gains and losses earlier in the day, as investors tried to assess the impact of US President Donald Trump's latest criticising tweets about the company. The Standard & Poor's 500 index gave up 2.2 percent, to 2,581.88.

US drillers cut seven oil rigs in the week to March 29, bringing the total down to 797, the first decline in three weeks. The tariffs apply to 128 products, ranging from pork and meat to steel pipes.

"We're starting a new quarter on an awfully soft footing", said Art Hogan, chief market strategist at B. Riley RBR.

Tobacco stocks have also shown a strong move to the upside on the day, while gold stocks are pulling back along with the price of the precious metal. "Global trade could slow down, global supply chains could be impacted, and CEOs could be more cautious on capital spending", Toohey said.

Aiden Markram labels Virat Kohli's praise a 'special feeling'
When stumps was finally called, Temba Bavuma had reached 25 and Quinton de Kock was unbeaten on seven. The ongoing series between Australia and South Africa has been in the news for all the wrong reasons.

In Europe, the Stoxx 600 Index ended the day with a 0.5 percent decrease from the previous close. Tyson Foods, which could see its sales in China dip as prices rise, slumped $4.42, or 6 percent, to $68.77.

Investors fear the impact of a growing trade war between the US and China.

In particular though, over the past week President Trump has been going after one of the biggest market drivers, Amazon, which consequently sent the market tumbling. Trump repeatedly criticized the company of late over issues including taxes and Amazon's shipping deals with the U.S. Postal Service.

Shares of Tesla jumped, up 8.2 percent as of 2.05pm in NY, after the vehicle maker reassured investors by saying it will not need to raise additional capital this year. Brent crude, used to price global oils, slid $1.33, or 1.9 percent, to $68.01 a barrel in London.

State Street rose 1.2 percent Tuesday.

Specialist Thomas McArdle, left, works with traders John Panin, center, and Jeffrey Vazquez on the floor of the New York Stock Exchange, Monday, April 2, 2018. Yield on 10-year Treasury note rose after dropping to two-month lows on Monday, boosted by safety buying as stocks tumbled.

The Dow Jones industrial average climbed 114 points, or 0.5 percent, to 23,742.


  • Villanova hero deletes Twitter account over offensive posts

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    Mississippi State women's basketball receives warm welcome home

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    Louis in 2001 - and 2001 MVP Ruth Riley was on hand with maybe 20 other former Irish players to join the celebration. President Bartel, a Notre Dame alum herself, said Ogunbowale exudes the qualities instilled in DSHA students.
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    There's one big reason Trump wouldn't want to go after Amazon

    Senior fellow at the Institute on Taxation and Economic Policy, Matthew Gardner, explained this in a February blog post . On Monday Trump had also attacked the company over its shipping after criticizing it last week over taxes.
    Blue Jays stay at home to face White Sox

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    Weaver (1-0) struggled through a 27-pitch first inning but settled in and wound up allowing five hits, four of them singles. His second, a deep drive down the left-field line, also landed in the second deck and tied the score at 3-3 in the seventh.
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    Tony Finau 'dislocates' ankle after ace

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    U.S. golfer Tony Finau was competing in the annual Par-3 contest ahead of Thursday's Masters . As he does, Finau turns around and begins to backpedal before rolling his left ankle.
    Spider-Man Arrives Exclusively on PS4 This September

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    In the town of Khan Younis in southern Gaza, teenagers collected old tires from fix shops, loading them onto three-wheelers. Security Council met in an emergency meeting and issued a statement condemning the killing of civilians in Gaza .
    Syrian Government Declares Victory Over Eastern Ghouta

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    The process of evacuating Failaq al-Rahman terrorists from Douma began around noon on Sunday and finished late at night. About 130,000 people fled a Damascus suburb during a weeks-long Syrian regime offensive, the United Nations said Monday.
    Italy March manufacturing PMI 55.1 vs 55.4 expected

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More Syrian rebels leave stronghold near Damascus
Failaq Al-Rahman has a limited presence in the area, as opposed to Jaish al-Islam, which is believed to be more dominant in Douma. Abdul Karim also said that councils of some local towns are negotiating their own terms for reconciliation.

Winnie Mandela to be given state funeral
Two years later, Mandela and Winnie announced their separation. - 2003-2004: Convicted of fraud , with a suspended jail sentence. Ramaphosa, South Africa's new president, said a state funeral and an official memorial service will be held to honour her.

China Hits Back With 25% Tariff On US Imports
U.S. stock markets have plummeted after China escalated a trade war with Donald Trump over $50 billion of newly-announced tariffs. USA beef, corn and cotton were also on the list. "Thirty thousand units is quite small in the overall scheme of things", he said.

Palestinians say Israeli soldiers "deliberately" kill protesters on Israel-Gaza Border
Israel on Sunday rejected global calls for an independent investigation into Friday clashes near the Gaza-Israel border fence. He called for an worldwide investigation to uncover the weapons used by the Israeli army against Palestinian demonstrators.

Impatient for wall, Trump wants USA military to secure border
Trump's Sunday tweets may have been in response to commentary on Fox News Channel, which he is known to watch regularly. A USA border patrol agent looks over the Rio Grande at the border between United States and Mexico in May 2017.

Judge rejects trial demand in Stormy Daniels case
Actor Seth Rogen knew about the alleged affair between porn star Stormy Daniels and Donald Trump long before anyone else did. She had the affair in 2006 after meeting Trump at a golf event in Lake Tahoe, Calif.

If you have an iOS device, you can now play Fortnite
The contest lasts until April 10, so if you plan on dancing for the internet to see, get your entries in by then. Support for Android devices is in the works and should be available "within the next few months".

People Are Wearing Blue Today for Autism Awareness Day
For example, speaking less than 50 different words by the age of two, or not speaking at all. If you, or anyone you know, feel you may have autism , visit your GP for advice.

Daniel and Henrik Sedin announce their retirement
The Sedins were drafted second and third overall in 1999, and are two of the most recognizable Vancouver Canucks players. The Sedins were magic for the Canucks in 17 seasons (they had one season taken away because of the 2004-05 lockout).

China's Tiangong-1 space lab plummets to Earth, breaks up over Pacific
There is "no need for people to worry", the China Manned Space Engineering Office said earlier on its WeChat social media account. Mr McDowell has also pointed out that if part of the space station lands in your garden "it's not yours, it's still China's".