FTSE 100 tumbles after dramatic losses across U.S. and Asia

London pre-open: Stocks seen lower on weak US, Asian cues; services PMI eyed

Global markets have now fallen 10% from their highs, placing the stock market sell-off firmly in "correction" territory, though the drop is not yet heavy enough to be classed as a bear market.

United States stocks plunged overnight during a highly volatile day of Wall Street trading with the Dow Jones falling by more than 1,150 points, erasing all the gains it has made for the year.

London's blue-chip index lost more than one per cent in the first half hour of trading to hit its lowest point since 8 December.

"For what it's worth, sentiment has improved from overnight pricing which at one point pointed to a 350-point opening loss for the FTSE 100". In Tokyo the Nikkei 225 index slumped 1,071.84 points, or 4.7 per cent, to 21,610.24m and in Paris the CAC 40 fell 3.1 per cent.

The sell-off followed a painful week for U.S. equity investors, culminating in the biggest one-day sell-off on the benchmark S&P 500 index in two years.

The Dow Jones closed 4.6% down yesterday at 24,345 points - its worst daily points decline in its 122-year history and wiping out all of 2018's gain - while the S&P 500 recorded a loss of 4.1% to trade at 2,649.

Ramsey scores hat-trick as Arsenal thrash Everton
Fluent, pacy, technical quality, agile movement, very mobile and good finishing. "I do not quite know where we might have been without him".

100 years of women's suffrage in Britain
For the first time, the Parliamentary Archives will display four original Acts of Parliament extending the franchise. Theresa May will mark the centenary with a speech in Manchester hailing the "heroism" of the suffragettes.

Hyundai's new Santa Fe revealed in Korea
It also has Safe Exist Assist to warn the passenger if he is about to open a door in the path of a nearby vehicle . This means the small lamps and large grille found on the Kona and i30 are making their way to the Santa Fe.

The pace of the sell-off quickened on Friday, after strong USA jobs data prompted investors to reassess the pace of interest rate rises from the Federal Reserve, before descending into panic in late U.S. afternoon trading yesterday.

The market's slump began on Friday as investors anxious that creeping signs of higher inflation and interest rates could derail the market's record-setting rally.

That could be painful for markets that have been propped up by central banks' stimulus for many years.

James Bateman, the chief investment officer for multi-asset at Fidelity International, is bouyed by the movements.

"Yet in a world where the concept of a "correction" nearly feels alien and where equities felt like an unstoppable one-way bet for a while, the normality of a setback can feel more painful", he added.

"Holding this course as volatility eases won't seem easy - but at this stage of the cycle, the money is made by keeping your head when others are losing theirs". Like other commodities, oil is priced in dollars making it more expensive when the U.S. currency appreciates.

Related:

  • Assange loses bid to quash arrest warrant

    Assange loses bid to quash arrest warrant

    Julian Assange has lost his bid to have the warrant declared invalid at Westminster Magistrates' Court . Mr Assange's legal team say the warrant no longer serves a objective or function.
    EPL: Chelsea suffer another humiliating 4-1 loss to Watford

    EPL: Chelsea suffer another humiliating 4-1 loss to Watford

    The request might not hold real value in the long run but will at least help the team and the coach to focus on the task at hand. Conte has called on the Chelsea board to end the uncertainty over his future by publicly confirming they trust in his work.

    KCS Wealth Advisory Invests $278000 in NXP Semiconductors NV (NASDAQ:NXPI)

    Several institutional investors have recently bought and sold shares of NXPI. 114 funds opened positions while 708 raised stakes. Zacks Investment Research upgraded shares of NXP Semiconductors from a "sell" rating to a "hold" rating in a report on Thursday.
  • Trump Accuses Senior Democratic Congressman Of Leaks Confidential Information

    Trump Accuses Senior Democratic Congressman Of Leaks Confidential Information

    The confirmation about Papadopoulos is "the most important fact disclosed in this otherwise shoddy memo", Schiff said Saturday. The HIC voted unanimously to release the Democratic memo.
    Nuggets Interested In Marcus Smart; Here's What Celtics Want

    Nuggets Interested In Marcus Smart; Here's What Celtics Want

    There are three days until the trade deadline, though, and you never know how minds might change between now and then. Though Mudiay is young, the Nuggets are clearly acknowledging that he likely won't work out in Denver.
    US, North Korea trade warnings on nuclear strikes

    US, North Korea trade warnings on nuclear strikes

    American disarmament envoy Robert Wood warned Kim Jong-un's weapons must be "completely, verifiably and irreversibly eliminated". The tyrant carried out a series of missile and nuclear tests a year ago and has escalated worldwide tensions.
  • Misleading 'tsunami warning' alert sent out to parts of east coast

    Misleading 'tsunami warning' alert sent out to parts of east coast

    The National Weather Service office in NY said they were attempting to determine why the warning went out. The National Weather Service Boston said Tuesday that there is "NO TSUNAMI THREAT FOR New England".
    Quentin Tarantino: Uma Thurman vehicle  crash was a 'horrendous mistake'

    Quentin Tarantino: Uma Thurman vehicle crash was a 'horrendous mistake'

    She also revealed that she had been uncomfortable about performing the stunt, stating: "The seat wasn't screwed down properly. In an interview with Deadline on Monday, Tarantino has responded to the opinion piece, criticising columnist Maureen Dowd.
    Stocks crater, Dow and S&P erase year-to-date gains

    Stocks crater, Dow and S&P erase year-to-date gains

    The pan-European FTSEurofirst 300 index lost 1.51 percent and MSCI's gauge of stocks across the globe shed 2.96 percent. It is the worst drop in points since September 2008 when a plan to rescue the USA banking industry was rejected.
  • Eagles' Malcolm Jenkins refuses to visit Trump after Super Bowl victory

    Eagles' Malcolm Jenkins refuses to visit Trump after Super Bowl victory

    Jenkins raised his right fist during the national anthem for the past two seasons to raise awareness for criminal justice reform. Jenkins continued, "My message has been clear all year". "I want to see changes in our criminal justice system", Jenkins added.

    Rep. Trey Gowdy: FBI concealed Clinton role in Steele dossier

    They say the memo amounts to a misleading "hit job" created to sow doubt about probes into the Trump campaign's alleged interactions with Russian actors.
    Smuggled Vehicles Destroyed In The Philippines On President's Orders

    Smuggled Vehicles Destroyed In The Philippines On President's Orders

    That was not have been the first time that China's research vessels have plied Benham Rise. "All licences are deemed cancelled". He earlier allowed Chinese oceanographers to operate there, and he gave no explanation for the change .

Comments

Latest news

6N: Wales unchanged for England at Twickenham
Wales centre Scott Williams is set for a Twickenham return on Saturday with a six-year unbeaten England record in his sights. Gatland's only switch is among the replacements , where fit-again Northampton wing George North takes over from Owen Watkin.

Dow plunges below 25000 as investors fear interest rate hike
The bank report found that 9 percent of companies in Europe were "zombies" with "very weak interest coverage metrics". The big four banks fell around 3% each while miners BHP Billiton, Rio Tinto, Fortescue and South32 lost 1% to 3%.

Energy Transfer Equity, LP (ETE), Sanchez Energy Corporation (SN)
It increased, as 12 investors sold ETP shares while 8 reduced holdings. 42 funds opened positions while 119 raised stakes. You can get a sense of how sustainable that is by a levered free cash flow of -$3.61 Billion over the past twelve months.

Opposition boycotts Rajya Sabha, allege their voice is being muzzled
Later, the MPs clarified that they did not mean to cast aspersions about Naidu, but "this is not the way Rajya Sabha is run". Before the House was adjourned, he raised the issue of eight rail routes stopped in West Bengal.

An opening for Trump to fire Rod Rosenstein
Rosenstein, who seemed to have been taken aback by the question, responded, "We're all on your team, Mr. But in reality, Trump has long pushed for the memo to be made public.

Premier League considering introduction of winter break ahead of new broadcast deal
Pundits and managers have often said that the lack of a winter break affects the chances of British teams in the Champions League. Pep Guardiola echoed those sentiments in January. "I know it is not going to change but for what?"

GOP may have to compromise on an immigration deal
Democrats' House campaign committee topped its GOP counterpart for 2017, raising $105 million to the Republicans' $85 million. They looked like a bunch of losers and only made the president look better, more reasonable and more presidential.

Pink Blasts Twitter troll for criticising her Super Bowl performance
When asked if she would fill in for Pink if needed, Clarkson said, "I don't think Pink will need anybody to fill in for her". Despite her being diagnosed with the flu, Pink chose to carry on and deliver her Super Bowl performance the best she could.

The Walt Disney Company (DIS), Radian Group Inc. (RDN)
Front Row Advisors LLC bought a new position in shares of Walt Disney during the 4th quarter worth approximately $122,000. It dived, as 90 investors sold DIS shares while 649 reduced holdings. 95 funds opened positions while 563 raised stakes.

Trump accuses democrats of 'treason' amid market rout
Trump was accompanied to the hospital by presidential adviser Kellyanne Conway. "Nancy Pelosi, what she's doing to this country". She said, "You've set a banquet for the wealthy and corporate America and thrown a few crumbs" to the middle class.

After Anupam Kher, Ram Madhav's Twitter hacked
Bedi, Madhav, Dasgupta and Kher's Twitter pages had retweeted posts in Turkish that also featured the emoji of Turkey's flag. Your DM correspondence and important data have been captured!' 'I Love Pakistan , ' they wrote in the same tweet.

Padmaavat: When Ranveer Singh SCARED his co-stars!
There is a perception in the film industry that two male stars find it hard to work together owing to their big egos. Padmaavat is made at an estimated budget of Rs170-180 crore and was screened across 3500 theatres in India.

World gold demand falls in 2017, despite Q4 recovery
Globally, gold demand rallied in the closing months of 2017, gaining six per cent year-on-year to 1,095.8 tonnes in Q4. In terms of value, the gold investment demand dropped by one per cent in 2017 from Rs. 43,650 crore in 2016.

Bannon not expected to appear before House Intel Tuesday despite subpoena
He is expected to meet with investigators on Mueller's team next week, Reuters reported. He intends to answer all the questions, the person added.

Government considering directly operating East Coast Mainline
As a result it will "only be able to continue in its current form for a matter of a very small number of months and no more". Transport secretary Chris Grayling has admitted the beleaguered East Coast mainline rail franchise has collapsed.

Other news