The U.S. trade war with China has largely been brushed off by the markets, but the slide shows it may finally be taking a toll. Apple and Amazon both had their worst day in two and a half years.
Japan's Nikkei 225 added 0.2 percent, South Korea's Kospi dropped 1.1 percent and the Hang Seng in Hong Kong gained 0.1 percent.
Gold rose as sliding global stock markets prompted risk-wary investors to seek the metal, and a drop in U.S. Treasury bond yields helped push the dollar lower. She said they also fear that company profit margins will be squeezed by rising costs, including the price of oil.
"The market is not necessarily going to take out much from the yield path", Goncalves said.
But historically, a monthly move of one to two deviations, or 20 to 40 basis points now, would result in flat S&P 500 returns.
The broad-based S&P 500 slumped 3.3% to end at 2,786.46, while the tech-rich Nasdaq Composite Index plummeted 4% to finish the session at 7,427.74. Eastern time. It's on track for its fifth straight drop, which hasn't happened since right before the 2016 presidential election. Jeweler Tiffany, handbag makers Michael Kors and Tapestry tumbled between 4.9 and 7.2 percent.
USA crude fell 1.98 per cent to $71.72 per barrel and Brent was last at $81.30, down 2.15 per cent on the day.
Alibaba dropped 4.1 percent after Morgan Stanley and Raymond James cut their near-term profit estimates on the Chinese e-commerce company, citing a softer economic environment in China. Boeing lost 4 per cent to $370.04 and Alphabet, Google's parent company, gave up 3.2 per cent to $1,109.08. The FAANGs, spread over three sectors, were down between 1.4 percent and 5.4 percent.
The 10-year Treasury yield remained at 3.20 per cent, about where it was late on Tuesday, after earlier touching 3.24 per cent. Australia's S&P/ASX 200 slipped 2.4 percent to 5,906.00.
Bond yields and therefore interest rates have been rising for more than two years as the USA economy grew strong. Adams, of Bloomberg Intelligence, said investors have concerns about their future profitability, too.
Hurricane Michael grows stronger on way to Florida
Authorities are correcting early reports about the death of an 11-year-old girl as Hurricane Michael blew over southwest Georgia. The governor activated 750 National Guardsmen for storm response on Monday, on top of the 500 activated the day before.
'Austin Powers' actor Verne Troyer's cause of death revealed
Troyer addressed his current situation at the time in an Instagram post , writing "I'd like to address a very personal situation". It also said he was "a fighter" and had his share of "battles" during his life, "but unfortunately this time was too much".
Conor McGregor given one-month medical suspension
White said the UFC will allow the NSAC to conduct its hearings before making a decision on Nurmagomedov's next fight. So that right hand, you know... he was very disappointed he got caught with a shot like that. "You won.
Earlier on Wednesday, Sears Holdings plunged on reports that the struggling retailer is preparing to file for bankruptcy. The stock fell 15 per cent to 50 cents.
Many investors now believe that the Federal Reserve's campaign to "normalize" monetary policy, reversing years of extraordinary support that included the quantitative easing bond buying program and keeping its overnight target very low, will push interest rates higher than previously thought.
Oil futures fell. USA crude gave up $1.27 to $71.90 a barrel. Brent crude, the global standard, lost 2.2 per cent to $83.09 a barrel in London.
Wholesale gasoline shed 2.7 per cent to $2.02 a gallon.
In small-caps, the Russell 2000 closed at 1,575.91 for a loss of -45.95 points or -2.83%. Natural gas rose 0.6 per cent to $3.28 per 1,000 cubic feet.
USA gold futures settled up $1.9, or 0.16 percent, at $1,193.4.
Amazon has soared 50 percent this year, but its stock has fallen 14 percent from its all-time high in early September. Copper fell 0.9 per cent to $2.78 a pound.
In London, the FTSE 100 was down by 1% as hopes of a Brexit deal lifted the pound - weakening the sterling value of earnings for numerous global index's multinational constituents.
The stock market as a whole, however, had solid reasons behind the fall: rising interest rates.
When investors expect rates to rise, the prices of bonds paying lower interest rates falls. Brazil's Bovespa lost 2.5 per cent and the Merval in Argentina sank 2.2 per cent.
The Japanese yen strengthened 0.01 per cent versus the greenback at 112.29. The euro rose to $1.1525 from $1.1496.
However, judging by the recently launched Nokia 7 .1, we can expect the same "Pure Display " technology and Zeiss camera setup. However, we found out the display is not that bright as we have seen in other smartphones in this price range.
Cable provider CenturyLink has denied being the subject of the story, and Engadget has learned that Comcast also isn't involved. The Supermicro backdoor reported Tuesday was also the result of malicious hardware secretly implanted during its manufacture.
The NPU will likely be a highlight of these new chips because Samsung will want to compare its AI against Apple and Huawei's NPUs. Follow the below instructions to install the early Android Pie on your Samsung Galaxy Note 9 with Snapdragon 845 chipset.
A duo of astronauts from the USA and Russian Federation has blasted off for a mission on the International Space Station. EDT (1645 GMT), when they will be greeted by their three Expedition 57 crewmates: NASA astronaut Serena M.
Last month, an oxygen leak was found in the International Space Station that Russia's space chief said was caused deliberately. The Soyuz-FG rocket booster which carries the Soyuz MS-10 capsule is pictured on its way to the International Space Station.
Thankfully, this time, we get the Helio P22 chipset which is a decent performer as the same SoC powers the Xiaomi Redmi 6 . Connectivity options include Wi-Fi 802.11 b/g/n, Bluetooth 4.1, GPS/AGPS, micro-USB 2.0, FM, and a 3.5mm headphone jack.
To recap, this smartphone features a 6-inch Super AMOLED display pushing a Full HD+ resolution of 2220×1080 pixels. In Europe, it will start at €599 / £549 (between $700-$725), with the 8GB variant sure to be a little more.
It appeared to be so powerful that it was expected to remain a hurricane as it moves into Alabama and Georgia early Thursday. Amtrak has also modified its service and is waiving fees for passengers who change their reservations.
Overwatch LEGO Bastion Now Available for Purchase
This model comprises of 182 pieces, including either a tile or sticker that denotes the set as a Blizzard exclusive. Fans will also appreciate Bastion's friendly bird sidekick, Ganymede, also in the unique Omnic Crisis orange skin.
Quake near Bali, Indonesia, kills at least 3
The magnitude 7.5-quake and a subsequent tsunami razed swathes of the city of Palu on Sulawesi island on September 28. The accident mitigation agency, shows the damages from an quake in East Java's Sumenep district on October 11, 2018.
Channing Tatum ‘casually’ dating Jessie J
Tatum and Dewan were together for almost 10 years and share 5-year-old daughter Everly. Another user claimed that they saw Tatum and Jessie J at a restaurant on October 5.
Selena Gomez Hospitalized for Emotional Breakdown
Singer Selena Gomez is said to be receiving treatment at a mental health facility after a rough couple of weeks. Gomez, who has lupus, received a kidney transplant from a friend, Francia Raisa , last year.
Britons killed in Majorca floods are named
The weather agency, AEMET, said more heavy rainfall is expected Wednesday in eastern and southern parts of the Iberian peninsula. Rescue workers and military units from the Spanish mainland were heading to the area which is popular with British holidaymakers.
Turkey asks to search Saudi consulate for missing journo
Each one serves up an interesting selection of facts, opinions, images and videos in order to catch you up and vault you ahead. That team was sent "specifically for the murder", a person with knowledge of the Turkish investigation tells the Post .