Tech companies lead another steep sell-off in U.S. stocks

Futures Slump on Global Riskoff Sentiment; Caterpillar Weighs

The tech-heavy Nasdaq composite dropped 176 points, or 2.4 percent, to 7,145.

USA stocks plunged on Friday as grim earnings reports from Amazon and Alphabet rekindled a rush to dump technology and high-growth stocks, but data showing economic growth in the last quarter slowed less than expected provided some relief.

The S&P 500 index slid 46.88 points, or 1.7 percent, to 2,658.69.

The Dow Jones Industrial Average lost 2.4%, meaning it had erased all 2018's gains by the close.

The weak results from Amazon and Google parent Alphabet were the latest setback for the high-growth quartet of stocks known as FANG, which also includes Facebook Inc and Netflix Inc.

The S&P 500 is down 111.68 points, or 4 percent.

Friday saw the American stock market collapse with the S&P 500, Nasdaq Composite Index and Dow Jones all collapsing massively. The Russell 2000 index of smaller-company stocks gave up 19 points, or 1.3 percent, to 1,480. Helped by tax cuts, the economy expanded at a 4.2 percent annual pace from April through June, fastest in almost four years.

About 24 percent of the companies in the S&P 500 had reported third-quarter results as of Wednesday.

ENERGY: Benchmark U.S. crude fell 0.7 per cent to $66.88 a barrel in NY.

Twins reportedly expected to hire Rocco Baldelli
A source with knowledge of the situation confirmed Baldelli's hiring to KSTP Sports early Thursday morning. The Tampa Bay Times reported that he'd interviewed for all 5 teams actively seeking a manager.

What Happened To Jamal Khashoggi? Donald Trump Asks For Tape Recordings
The Conservatives have generally been highly reticent to express criticism towards the Saudi government or its crown prince. The tough stance by the Congress may be at odds with the remarks from the White House. "It's a very sad thing".

Manafort visited Mueller 9 times since pleading guilty
Prosecutors agreed to drop, and the judge dismissed, the remaining 10 charges the jury could not come to an agreement on. He also faces sentencing in a related case in the District of Columbia, also brought by special counsel Robert S.

Microsoft, whose strong results helped push the Nasdaq to its biggest daily gain since March just a day earlier, fell 1.2 percent.

On Thursday the stock market looks the way it has looked for most of this year: high-tech and consumer-focused companies lead the way while steadier, defensive stocks that pay big dividends weren't doing much, or lost ground.

The FTSE 100 closed down 0.92 per cent, or 64.54 points, to 6939.56, while the FTSE 250 shed 0.96 per cent, or 178.63 points, to 18,352.90. Heating oil jumped 1.1 percent to $2.30 a gallon and natural gas fell 0.5 percent to $3.19 per 1,000 cubic feet.

The S&P 500 energy index fell 2.7 percent, the most of any sector, as oil prices plunged after Saudi Arabia said it could supply more crude quickly if needed.

Adding to weaker sentiment in late trading, the Federal Reserve said in a report on the economy that USA factories have raised prices because of tariffs.

Meanwhile, Amazon.com Inc saw a drop of 9.6 percent.

Bond prices fell. The yield on the 10-year Treasury note rose to 3.13 percent. Bond prices rose, sending yields lower, as investors sought out less risky assets. UPS fell 3 percent. Brent crude, used to price global oils, declined 72 cents to $75.45 a barrel. That's higher than what many economists had been projecting and followed an even stronger 4.2 per cent rate of growth in the second quarter.

The current skid for stocks is the third big swoon for the markets this year. Futures markets for Japan's Nikkei index are also down more than 2%.

The dollar fell to 111.85 yen from 112.61 yen on Thursday.

Related news:

loading...

Hot News

isis-killer-beheading-video-story-top China leads the way as worlds billionaires get even richer
Oct 29, 2018 - 05:57
He added: "The first step for wealth creation is usually the equity market; Asia and the U.S. share the same characteristics". Last year, 106 new billionaires were created there - equivalent to over two new billionaires being minted each week.

isis-killer-beheading-video-story-top Glenn Hoddle 'Taken Seriously Ill' Ahead Of Appearance On BT Sport
Oct 28, 2018 - 01:21
England captain Harry Kane also sent a message, in conjunction with Tottenham, writing: "Thoughts are with Glenn Hoddle". Former England manager Glenn Hoddle is in hospital after falling seriously ill while preparing to appear on TV.

isis-killer-beheading-video-story-top US attacked Russia's Syria base with drones, Defense Ministry claims
Oct 28, 2018 - 01:17
Fomin says the drones were destroyed before they could reach the base. "He took over manual control", - said the Deputy Minister. It's the first time Moscow directly accuses the United States of coordinating an attack on Russian assets in Syria.

isis-killer-beheading-video-story-top Saudi Prosecutors Now Claiming Killing of Jamal Khashoggi Was Premeditated
Oct 27, 2018 - 00:19
Turkish President Tayipp Erdogan is shedding light on his government's probe into the death of journalist Jamal Khashoggi . On Wednesday, the crown prince called the killing of Khashoggi a "heinous crime that can not be justified".

isis-killer-beheading-video-story-top Walk like a champion? DJ Bravo announces retirement from West Indies cricket
Oct 27, 2018 - 00:19
Hope, who registered his second ODI ton, kept chipping away despite some tight bowling by the Indian pacemen and Holder´s run out. In Guwahati, riding on centuries by Virat Kohli and Rohit Sharma, India wrapped up the match with nearly 8 overs to spare.

isis-killer-beheading-video-story-top Megyn Kelly’s Lawyer Wants Ronan Farrow to Attend Meeting With NBC Executives
Oct 26, 2018 - 01:35
Attorney Bryan Freedman is expected to meet with NBC executives "as soon as Friday", said Davidson Goldin, a spokesman for Kelly. The decision to retain a lawyer may signal a lengthy battle over her contract, which is reportedly valued at $23 million a year.

isis-killer-beheading-video-story-top Could The $1.6 Billion Lottery Winner Appear On My Lottery Dream Home?
Oct 25, 2018 - 06:10
For the victor , options include an immediate cash payment of $877.8 million, or the $1.537 billion prize paid out over 29 years. She was worth $1.8 billion from the chemical, real estate and manufacturing conglomerate, the magazine reported.

isis-killer-beheading-video-story-top Crown Prince Muhammad addresses FII at plenary session
Oct 25, 2018 - 05:47
Most recently, the Saudis said Khashoggi was killed in a chokehold when he tried to leave the consulate to call for help. Mr Erdogan stopped short of mentioning the crown prince who some United States lawmakers suspect ordered the killing.

isis-killer-beheading-video-story-top Mega Millions And Powerball Combined Jackpots Reach $2.2 Billion After No Winners
Oct 25, 2018 - 05:44
New York has the highest tax at 8.8 percent and residents of New York City face another 3.8 percent extra in taxes. Mega Millions tickets cost $2 each and are sold by retailers in 44 states, plus Washington, D.C., and the U.S.

isis-killer-beheading-video-story-top United Kingdom might need to seek a short extension to Brexit transition: May
Oct 24, 2018 - 01:48
There is increasing speculation that May will face a leadership challenge from her own party. It will mean not giving in to those who want to stop Brexit with a politician's vote.

isis-killer-beheading-video-story-top No. 2 Ohio State stumbles at Purdue, gets blown out
Oct 24, 2018 - 01:40
As on Sunday afternoon, Clemson is now the new number two team in the country, after Ohio State's first loss of the season. Hill is Ohio State's leading receiver and though he isn't a burner or a deep threat, he is exactly what Ohio State needs.

isis-killer-beheading-video-story-top Trump says MS-13, terrorists are part of caravan
Oct 23, 2018 - 01:37
I have alerted Border Patrol and Military that this is a National Emergy (sic). Over the past few days, the caravan has grown from 4,000 people to 7,000.

Raiders Trade Amari Cooper To Cowboys For First-Round Pick
Oct 23, 2018 - 01:27
Oakland figures to have a good shot at the No. 1 overall pick in 2019, and now has three first-rounders with the Cooper trade. He is expected to be able to play when the Cowboys return from their bye week to face the Tennessee Titans on November 5.

isis-killer-beheading-video-story-top Migrant caravan vows to continue march toward USA border
Oct 22, 2018 - 02:01
Jonathan Guzman, who joined the mass procession caravan en route, said he dreams of finding a construction job in Los Angeles. A growing crowd of Central American migrants is resuming its advance toward the US border in southern Mexico on Sunday.

isis-killer-beheading-video-story-top Meghan Markle Opens Up About Her Pregnancy During Royal Tour
Oct 21, 2018 - 01:10
The Duchess of Sussex woke up at 4.30am to do yoga and told a group at Bondi Beach it was "so good for healing your mind". MEGHAN Markle and Prince Harry have been taking "secret breathers" during their tour of Australia , it has been claimed.