What does it mean when stocks enter a 'bear market'
23 December, 2018, 06:30 | Author: Lawrence Cooper
The revived possibility of a shutdown worsened the downbeat mood on markets after the Federal Reserve announced another interest rate hike on Wednesday and made only subtle adjustments to the course of monetary policy tightening next year despite rising worries about global growth and a big pullback in the stock market.
Then the political gridlock in Washington put the market in a downward spiral, as President Donald Trump held fast on his demands for more border security funding and Democrats resisted, and the government moved closer to a shutdown.
After years of gains, USA investors are fleeing stocks, anxious about a range of factors likely to hit corporate profits, including slowing economic growth domestically and overseas. "Fear about a USA government shutdown is playing into the mix too".
"This is the classic shoot-first-and-ask-questions-later market", said Scott Wren, senior global equity strategist at Wells Fargo Investment Institute. The Dow fell 464.06 points, or 2 percent, to 22,859.60 after sinking as much as 679. The Dow is off 10 percent for December, and the Nasdaq is down more than 19 percent since August 29.
Stocks sank almost 500 points Thursday on the news that President Donald Trump would not sign the spending bill that would avert a partial government shutdown Friday night.
By contrast, in that same period, the S&P 500 .SPX gained just 331 percent, with a total return of 425 percent. Oil prices fell sharply again. The Russell 2000 index of smaller-company stocks lost 33.92 points, or 2.6 percent, 1,292.09. Target also climbed 1 percent. Indexes in Italy, Portugal and Spain took bigger losses.
As investors adjusted to the prospect of a weaker economy and lower long-term interest rates, the dollar fell to ¥110.90 from ¥112.36. The yield on the 2-year Treasury note fell to 2.62 percent from 2.65 percent. Wholesale gasoline lost 4.6 percent to $1.32 a gallon and heating oil slid 3.1 percent to $1.75 a gallon. The euro fell back to $1.1369 from $1.1469 and the British pound slipped to $1.2639 from $1.2671.
Federal data from earlier this month showed 14 per cent of USA adults smoked cigarettes, the lowest level ever recorded. Juul will remain an independent company, but it gains access to Altria's massive infrastructure and reach.
They have said the prosecutors' case is tarnished by police misconduct and asked for an evidentiary hearing over the revelations. Weinstein turned himself in to authorities in May, and was hit with six felony charges across June and July.
Ole Gunnar Solskjaer told his players to "be Manchester United " before their rousing 5-1 win against Cardiff on Saturday. Rooney, who had watched the match from the BT Sport studio, added: "It's a fantastic day for the club.
This despite all his campaign promises that Mexico would end up paying for such a wall, which Mexico has declined to do. Asked how long any potential shutdown would last, Sanders said: "Let's hope that that doesn't have to happen".
This vote means that Theresa May can not be ousted as prime minister by her own party members for at least another 12 months. Theresa May's authority has been "fatally undermined" despite winning a confidence vote, Nicola Sturgeon has said.
The 32-year-old won the league twice during his time with Manchester City but is taking things slow nonetheless. That statistic may provide hope to Manchester City, as the two clubs gear up for a crucial encounter.
Since their wedding ceremony, the couple enjoyed a mini vacation in Oman as well as a few red carpet appearances as newlyweds. Priyanka Chopra and Nick Jonas's big fat wedding took place earlier this month at the opulent Umaid Bhawan Palace in Jodhpur .
Under British legislation, drones can not be flown near aircraft or airports, or at an altitude of over 400 feet (122 metres). Some people reported being left stuck on planes for several hours while they waited to find out what was going on.
He has also made it clear his preferred position is shortstop, a position he wouldn't be playing with the Phillies. The Phillies are an up-and-coming team that might only be a superstar away from being a contender.
Mauricio Pochettino, the Tottenham Hotspur manager, is understood to be club's preferred candidate to take over in the summer. Manchester United legend Gary Neville has revealed who he would like to take over as manager after Jose Mourinho was sacked.
Khashoggi: Saudi Arabia modifies intelligence service
However, the Central Intelligence Agency found that Saudi Crown Prince Mohammed bin Salman was involved in Khashoggi's murder. Only five US journalists were killed between 2000 and 2017 in connection to their work, according to CPJ records.
Dodgers send Puig, Kemp to Reds in multi-player swap
The 28-year-old has one year of team control remaining and is projected by MLB Trade Rumors to earn $11.3 million in 2019. The deal also reunites him with hitting coach Turner Ward, who was hired by the Reds this off-season.
What Would A U.S. Troop Reduction In Afghanistan Mean?
However, the Syrian regime and its ally Russian Federation had frequently called the us military presence in the country illegal. The US commander in Afghanistan John Nicholson (R) talks with soldiers in the Afghan province of Helmand on 29 April 2017.
Facebook sued over Cambridge Analytica data leak
On Friday, for example, the company admitted that some users' photos may have been improperly accessed by third-party apps. The organization criticized Facebook for not doing enough to protect the data of its African-American users.
China takes aim at Japan's plan to boost defense spending
The five-year plan approved Tuesday assumes record defence spending of 27.47 trillion yen (US$244 billion) through March 2024. President Donald Trump's administration and bolstering its domestic defense industry, Japan is promising to do both.