Major US stock indexes head lower as bond yields spike
Major US stock indexes head lower as bond yields spike
Dow breaks 8-day winning streak
16 May, 2018, 10:08
The US indexes closed Monday trading session with growth, hoping to reassure trade pressure between the two largest economies in the world, the United States and China. By afternoon, those gains were mostly gone.
The S&P 500 is up 37.84 points, or 1.4 percent.
Japan's Nikkei 225 stock index lost 0.2 percent to 22,766.69 and the Kospi in South Korea edged less than 0.1 percent lower to 2,457.88.
The Dow Jones Industrial Average declined 193 points, or 0.78%, to 24,706, ending its eight-session winning streak. The surge came after the Commerce Department said retail sales climbed 0.3 percent in April. The Russell 2000 was down only 0.1% thanks mainly to relative strength in small-cap banks. Mortgage rates, which have been rising this year, tend to track the 10-year Treasury yield.
US stocks dropped sharply on Tuesday after Home Depot reported quarterly sales that fell short of Wall Street's expectations and interest rates breached new highs.
On Sunday, the US President Donald Trump pledged to help the Chinese technology company ZTE to "get back into business quickly" after US sanctions hurt the Asian company significantly. Acacia Communications also grew by 8.7%.
President Donald Trump tweeted over the weekend that the USA could ease sanctions on ZTE. The Nasdaq composite fell 75 points, or 1 percent, to 7,335.
The S&P 500 posted 10 new 52-week highs and seven new lows; the Nasdaq Composite recorded 82 new highs and 51 new lows.
The broad sell-off followed a slump in bond prices, which sent the 10-year Treasury yield to its highest level in nearly seven years.
USA companies that would stand to benefit from an effort to rescue ZTE, a Chinese technology company hurt by US tariffs, rose in early trading Monday. The so-called "fear index" jumped more than 13% to 14.63 after spending the better part of a weeks at more than three-month lows.
Among the technology stocks pressuring the overall market, Alphabet Inc., the parent company of Google, fell 2%, while Facebook Inc. lost 1.2%. USA shares were set to drift slightly lower, with Dow futures down 0.4 percent and S&P 500 futures 0.3 percent lower.
The update is starting its rollout today and should be available for everyone by early next week assuming everything goes well. Double tap: Until now, double tapping let you hear notifications as they arrived on your phone.
London, Paris and Berlin have reiterated their commitment to the 2015 Iran deal, following the USA withdrawal last Thursday. The European Union exported almost €11 billion ($13 billion) in goods to Iran in 2017, a 66% increase from 2015.
Without the three extra points, Peru would have fallen below Chile and Paraguay in the standings and out of contention. Bolivia fielded an ineligible player in a 2-0 win over Peru , and that result was overturned to a 3-0 loss by default.
Anwar is expected to be released from Cheras Rehabilitation Hospital, where he has been recovering from shoulder surgey. He will meet with the king at the national palace and then speak to supporters at a rally on Wednesday evening.
Lucas, the report says, told deputies his wife gets violent every time he doesn't play well in a major PGA tournament. Lucas Glover's wife Krista was arrested after allegedly attacking him over his poor round at TPC Sawgrass.
With APIs and a trusted hardware stack that includes the kernel and secure enclave, the phone will connect to various wallets. Mobile apps of cryptocurrency exchanges are driving phone makers to adopt blockchain.
Newcastle manager Rafa Benitez has worked miracles with a thin squad and limited funds, helping the club secure a 10th spot. It is hardly what global viewers, who long admire the competitiveness and intensity of English football, want to see.
Boeing fell less than 1 percent to $342.09 at 12:37 p.m.in NY , recovering from losses logged before the decision was issued. It is anticipated that US tariffs will be authorized up to the amount of annual harm the subsidies are determined to cause.
WOW Air announces route from St. Louis to India for $199
According to the Wow Air's website, travelling to NY with a couple of hours stop-over at Reykjavik, would take about 20 hours. Besides, the airline said that it will offer 4 fare options - WOW basic, WOW plus, WOW comfy and WOW premium .
Kucherov snaps out of funk in must win game for Lightning
Oshie, Lars Eller (in Backstrom's place) and John Carlson on the top half, failed to convert on one opportunity in every period. The Capitals are short -120 sportsbook favorites (bet $120 to win $100), with the over-under for total goals scored set at six.
LeBron James Heads to Locker Room in Game 2 Against Celtics
LeBron rarely has bad games back-to-back though, particularly in the playoffs, and he will come out breathing fire in Game 2. Even if it is just for brief stretches, the Celtics know how they need to disrupt James to take control of the game.
ND, 5 other states suing opioid maker
Last year, Shelby County Commissioners filed a lawsuit against almost 20 different drug manufacturers, doctors and pharmacies. Connecticut-based Purdue denied the claims in an email statement to The Associated Press that said it will defend itself.
Boat Accident in Godavari : 35 Missing, 5 Safe
Proper record-keeping is rare on the many ferries that work the Godavari, making it hard to know how many people were on the boat. Teams from the National Disaster Response Force and the State Disaster Response Force have been pressed into action.
Dutch researchers read two covered pages of Anne Frank diary
He edited and published her writings in hiding after the war, making Anne Frank one of the world's most famous Holocaust victims. The house where the Franks hid has been turned into museum, making it one of Amsterdam's most visited attractions.
Bruce: Villa were a mess after relegation
Stewart Downing fired the subsequent freekick off the woodwork but Middlesborough fans were furious Johnstone was not sent off. Villa captain John Terry told Sky Sports: "It's unbelievable and incredible". "There is a great team spirit among the boys".