Dow plummets 205pts as Trump inflames Korea tension
14 August, 2017, 06:44 | Author: Leticia Walters
The Dow Jones Industrial Average fell 162.59 points, or 0.74 percent, to 21,886.11, the S&P 500 lost 30.54 points, or 1.23 percent, to 2,443.48 and the Nasdaq Composite dropped 116.67 points, or 1.84 percent, to 6,235.66.
By the end of the day almost $1 trillion in equity had been lost globally.
Those highs were supported by strong corporate earnings, but lofty market valuations and a prolonged period without a significant market pullback had some analysts predicting a sell-off.
A small rise in a measure of US consumer prices pointed to benign inflation that could make the Federal Reserve cautious about raising interest rates again this year, which would be favorable to equity investors.
"If we break above this downtrend, then we potentially open up the region up to $1,300, the recent highs we saw in April and June", Butler said.
In Europe, Britain's FTSE100 was down over one percent, Germany's DAX traded 0.5 percent lower, while the French CAC40 index was 0.62 percent in the red, as of 9:00am GMT.
Stocks took a hit for a third straight day Thursday as North Korea's nuclear threats seemed again to roil the markets.
Robert Phipps, a director at Per Stirling Capital Management in Austin, said he was reassured after Dallas Fed President Rob Kaplan said the Fed needs evidence of progress toward its inflation goal before raising rates.
President Donald Trump kept the heat on North Korea, warning that the U.S. military is "locked and loaded" in the event of a misstep by the totalitarian state.
The North's latest threat came as US President Donald Trump warned Tuesday that North Korea will be met with "fire and fury" should it stick to ambitions to hit the US with ballistic missiles.
July's 0.1 percent increase in consumer prices suggests that the Federal Reserve may be less likely to raise interest rates next month. The stock lost 78 cents to $3.93. Discovery Communications declined 2.9%, while Viacom shed 1.9%. The company also said sales at its established stores declined for the fourth straight quarter. Humana Inc. rose $4.74, or 1.9 percent, to $254.96.
Elsewhere in commodities, the September crude contract advanced 20 cents to $49.76 per barrel and the September natural gas contract was up seven cents to $2.95 per mmBTU.
The Canadian dollar edged down 0.20 cents to 78.73 USA cents, while oil prices gained 39 cents to 49.56 US dollars a barrel and gold prices increased 19.10 to 1,281.70 USA dollars an ounce. Brent crude, used to price worldwide oils, rose 20 cents to $52.10 a barrel in London.
Gold added $3.90 to settle at $1,294 an ounce. It announced earnings of 92 cents per share on revenue of $2.23bn.
CURRENCIES: The dollar slipped to 109.05 yen from 109.20 while the euro weakened to $1.1763 from $1.1773.
Japan is the world's biggest creditor nation and there is an assumption Japanese investors may repatriate their foreign holdings in times of heightened global uncertainty.
AES Corp. shed 26 cents, or 2.3%, to $11.12. "The slight bias to the upside (in stocks) is a result of the CPI number". The stock lost $4.15 to $102.83. "Add it all up and stocks are vulnerable to a pullback or correction", Bittles said.
Along with a second-degree murder charge, Mr Fields faces three counts of malicious wounding and one count of leaving the scene. The death toll includes two Virginia State Police officers who were killed when their helicopter crashed near Charlottesville .
According to a new report, HBO offered hackers $250,000 as a "bug bounty payment" to prevent these leaks. So far, they have released some unaired episodes of HBO content including Ballers and Room 104 .
Her crew celebrated at a Kendrick Lamar concert Thursday, and with a screening of Halle Berry's new thriller "Kidnap". Tyga was accused of cheating several times , and his financial woes were well-documented .
That counts Saturday night's series opener that was delayed 3 hours and started at 7:05 p.m. on the West Coast. The San Francisco Giants and the Washington Nationals take the field in DC in a Sunday MLB match up.
Lynch, who did not play in the game, sat on an orange cooler, arms on his knees, while all others around him stood. The Raiders return for another pre-season game Saturday, Aug. 19 at home against the L.A.
The Dow Jones industrial average slid 204.69 points, or 0.9 percent, to 21,844.01, just shy of its low point for the day. After a dip of as much as 0.52 percent earlier in the day, Wall Street's three major indexes bounced off intraday lows.
SoundCloud , just like music, will continue to evolve, but importantly, both will always be a key part of life. Ljung and SoundCloud co-founder Eric Wahlforss will remain with the company they founded a decade ago.
Mr Pompeo declined to say how long it will be before North Korea could carry out such a nuclear attack on the U.S. mainland. Mike Pompeo says Pyongyang is moving at an "ever alarming rate" with its weapons program.
Morgan judge dismisses sex-with-student cases; appeal planned
Judges have been asked to dismiss the charges based on unconstitutionality in other cases, but they have declined to do so. In Alabama, the age of consent is 16, though the law prohibits teachers from having sex with students under the age of 19.
Gators suspended for season opener against MI
Seven Florida football players are suspended for the season opener September 2 against MI , the school announced Sunday. The No. 16-ranked Gators open the season against MI in the Advocare Classic on September 2 in Houston against No. 9 MI .