Technology companies were leading a broad slide in US stocks in early trading Thursday, Aug. 10, 2017, as investors pored over the latest batch of corporate earnings reports.
Stock markets around the world were under pressure on Wednesday amid increased tensions between the US and North Korea following comments from President Donald Trump, and big entertainment stocks were among the many decliners.
US equities steepened their losses late in the session after President Donald Trump said his earlier warnings to North Korea may not have been tough enough.
Bond and gold prices, traditional havens for nervous investors, were little changed, and the VIX, a measure of how much volatility investors expect in stocks, slid 6.7 percent following a 44.4 percent jump the day before.
The Dow Jones industrial average closed up 14 points, a gain of 0.07 percent, the Nasdaq composite rose almost 40 points or 0.64 percent and the S&P 500 gained 3 points or 0.13 percent. On Thursday, the Dow Jones Industrial Average, which has been steadily hitting records, posted its biggest decline since May.
In Europe, Britain's FTSE 100 was down 1.1 percent to 7,306, while France's CAC 40 fell 1.1 percent to 5,058.
OIL: Benchmark U.S. crude was down 14 cents to $48.47 a barrel on the on the New York Mercantile Exchange.
How major United States stock market indexes fared Thursday
The dollar-denominated RTS index was down 1.5 percent at 1,013 points as of 0834 GMT, taking its year-to-date loss to 12 percent. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, dipped by 2.3 basis points to 2.189%.
North Korea Tensions Hit Global Stock Markets
Shares Snap fell 1.94, or 14%, to 11.83 after the Snapchat parent reported earnings late Thursday that missed analyst forecasts. Investors instead turned to safe-haven assets such as gold, pushing it to a two-month high, and the Japanese yen rose.
Charter Communications rose 2.9 per cent on news Altice is exploring a bid for the cable giant. In a note to investors, Paul Christopher, head global market strategist, and Tracie McMillion, head of global asset allocation, suggest, "the threat of a nuclear weapon is certainly more serious than previous threats, but that threat also may increase the probability of a diplomatic solution".
Sterling slipped below $1.30, close to a two-and-a-half-week low but it strengthened against the euro by 0.2%, following Tuesday's 10-month low.
Ralph Lauren gained $10.38, or 13.3 percent, to $88.53, while peer-to-peer loan company LendingClub added 99 cents, or 18.1 percent, to $6.45. Morgan Stanley fell 68 cents, or 1.5 percent, to $45.62.
The pound was up 0.3% against the euro at 1.1091 and down nearly 0.1% on the dollar at 1.2994.
Ongoing global glut concerns lingered in oil markets despite a bigger-than-expected draw in United States crude inventories, leaving prices volatile. Germany's DAX fared better, trading only 0.2 percent lower at 11,989. Regeneron Pharmaceuticals led the pack, adding $4.47, or 1 percent, to $474.15. In Asia, several indexes closed lower overnight.
The mounting tensions between North Korea and the USA took its toll on the market for the third day in a row.
Nvidia's quarterly revenue in its data center and automotive businesses missed estimates, dragging the chipmaker's shares down 5.43 percent. Hong Kong's Hang Seng was off 0.3 percent.
But they may not know that China is forcing and coercing American companies that operate in China to turn over their technology. Trump has previously expressed frustration that China hasn't done more to economically punish North Korea.
That would be a daunting schedule for any quarterback, never mind one who only made 23 starts at Notre Dame. Jackson said after watching film of T Cam Erving, "it wasn't as bad as I think we all thought".
The economic consequences ... would likely be horrific, and ... also result in a temporary shock to global financial markets . It has been the leading S&P gainer so far this year, making it particularly vulnerable to a decline.
Rahul, who survived a dropped catch on 28, brought up his seventh consecutive Test 50 with a double off pacer Lahiru Kumara . Sandakan dismissed Pujara for a paltry 8 as he nicked one to Mathews at slip to get Sandakan his first wicket .
A scuffle during clashes between white nationalists and counterprotesters on the streets of Charlottesville , Va., Aug. 12, 2017. President Trump tweeted Saturday night his "deepest condolences" to the family and fellow police officers after the crash.
South Korea's KOSPI fell 1.8 percent to an 11-1/2-week low, but its losses for the week are a relatively modest 3.2 percent. The MSCI World index slipped 0.15 percent, extending Thursday's 1.1 percent drop, its biggest one-day slide since May 17.
The broad-based S&P 500 shed 0.6 percent to 2,459.50, while the tech-rich Nasdaq Composite Index tumbled 0.8 percent to 6,299.12. The local currency was trading at 1,145.05 won against the US dollar , down 3.05 won from the previous session's close.
Mash The Gas: NASCAR Michigan Preview
We have to take risks on the strategy side, I have to take risks on the race track just to put ourselves in position for a win. He also won his first stage of the season at the Glen, but still is looking for his first Cup series win of his career.
Fired engineer: Google tried to shame me
James Finberg, who is a civil rights attorney has announced that he is working on finding a legal basis for these women. Pichai told employees there will be forums in the coming days, in lieu of the canceled town hall meeting.
Dortmund suspend Dembele indefinitely
Dembele is being targeted as a replacement for Neymar , who left Barcelona for Paris Saint-Germain last week in a record-shattering €222million deal.
White nationalist rally in Virginia turns deadly
A few hours after violent encounters between the two groups, a auto drove into a crowd of people peacefully protesting the rally. Orrin Hatch, a Republican from Utah, furiously condemned the President, saying: "We should call evil by its name".
Partial lunar eclipse set to occur on August 7, 2017
If you would like to see 100% totality, you will have to travel roughly 280 miles from Roanoke or a little under 4.5 hours. If weather is cloudy, most viewing events will provide a live NASA stream of the eclipse inside.
Trump Welcomes New Sanctions On North Korea
In the face of Saturday's United Nations sanctions, North Korea remained defiant, saying the UN's move was unwarranted and unfair. Along with stopping the missile launches, North Korea would have to quit its nuclear weapons testing, he said recently.
Driver Who Crashed Into Counter Protesters ID'd
Our diversity, that mosaic tile of immigrants is what makes us so special, and we will not let anybody come here and destroy it. The mayor of Charlottesville said via Twitter on Saturday that he is "heartbroken" to announce that a "life has been lost".
Tropical Depression 8 forms in the western Atlantic
The Tropical Depression is expected to stay well off to our east and will not impact our coast here in North Carolina. However, the air that the system is running into will be dry, which might prevent it from organizing.
SoundCloud Accepts $170 Million Rescue, Taps New CEO
Trainor said SoundCloud will continue to offer the suscriptions, but that it won't be the central focus of the company. Total revenue has more than doubled to more than a $100 million annual run-rate this year. " SoundCloud can do more".