Sunday, 16 December, 2018

Strong Dollar Pressure Plunges Dow by 600 Points

Tech stocks are getting slammed, Dow drops more than 400 points Tech giants slide, pulling US stock market sharply lower
Kelvin Reese | 16 November, 2018, 09:16

Apple slumped 5 percent. The Malaysian government is seeking a full refund of fees it paid to the investment bank as part of deals related to the scandal, after Goldman "admitted culpability", according to a report from Bloomberg on Monday.

General Electric also experienced its fourth consecutive decline and tobacco stocks plummeted amid reports the Food and Drug Administration was considering a ban on menthol cigarettes.

"I would look at today's downdraft as probably not necessarily the canary in the coal mine for something much worse to come from an economic or market level", he said in an interview.

Traders work on the floor of the New York Stock Exchange in New York October 3, 2018.

The market had anticipated that exports from OPEC member Iran would fall precipitously following the institution of USA sanctions in November. The S&P 500 technology sector index fell 3.5 per cent, and the financial sector index fell 2.0 per cent. The Dow Jones Industrial Average slid as Exxon Mobil and Chevron dropped.

The tech-heavy Nasdaq fell 2.7 percent.

The unease in the market also resulted in a drop in USA crude oil and an increase in the dollar.

The Dow Jones Industrial Average was down 456.55 points, or 1.76 per cent, at 25,532.75, the S&P 500 was down 44.59 points, or 1.60 per cent, at 2,736.42 and the Nasdaq Composite was down 190.64 points, or 2.57 per cent, at 7,216.27.

Some of the world's largest technology companies, including Amazon and Microsoft, suffered losses on the day as Apple Inc. closed down five per cent.

'Infected?' Accusations of Election Fraud as Florida Races to Meet Recount Deadline
One of the pending lawsuits in federal court by Nelson is over the Florida Department of State's rules for reviewing those votes. Broward County's count was delayed for several days because its machines did not initially pass a required accuracy test.

New England Patriots fall to Titans in 34-10 upset
And so, we appear to be at the end of Bell's career in Pittsburgh. Bell is ineligible to play football this year. Bell's saga with the Steelers is over.

A year apart, some country music fans face 2 mass shootings
Nicholas Champion, who was in the Borderline Bar, told CBS News he and his friends attended the country music festival past year . But he was killed one year later in another mass shooting in his hometown of Thousand Oaks, California.

After a weekend meeting, the oil cartel announced that Saudi Arabia plans to reduce exports by around 500,000 barrels a day from November to December.

Athenahealth jumped 9.6 percent after the struggling medical billing software maker received a buyout offer.

The Dow is down 702.81 points, or 2.7 percent.

The Nasdaq is up 297.48 points, or 4.3 percent.

Global shares were mostly lower Wednesday, after the steepest drop in oil prices in more than three years put investors in a selling mood on Wall Street.

Apple sank 4.8 per cent and Amazon lost 4.5 per cent. Facebook gave up 2.5 per cent and JPMorgan Chase fell 1.8 per cent. Sydney's S&P-ASX 200 retreated 1.8 percent to 5,834.20 and Hong Kong's Hang Seng gained 0.5 percent to 25,750.52.

The Russell 2000 is down 16.72 points, or 1.1 per cent.

Stock markets stabilized Tuesday after a sell-off led by technology shares dragged Wall Street sharply lower the day before.

The Russell 2000 is down 34.69 points, or 2.2 percent.

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