A two-day unloading of U.S. Treasuries pushed their yields to multiyear peaks on Thursday as robust economic data and hawkish speeches by Federal Reserve officials stoked concerns about inflation, hitting Wall Street and stock markets globally. This time it wasn't only the rate-sensitive two-year yields that marched higher.
The worldwide surge started in the USA on Wednesday after private-sector payrolls beat estimates, fueling speculation that the Federal Reserve would raise interest rates more quickly than expected.
In a moderated discussion, Powell expressed confidence in the economy and said rising interest rates are a "long way" from holding back growth. Until last month, the Fed had described its policies as "accommodative", or encouraging faster growth, since the Great Recession.
The Dow Jones Industrial Average fell 178.8 points, or 0.67 per cent, to 26,448.68, the S&P 500 lost 16.04 points, or 0.55 per cent, to 2,885.57 and the Nasdaq Composite dropped 91.06 points, or 1.16 per cent, to 7,788.45. The dollar index fell 0.1 percent The euro was up 0.02 percent to $1.1515.
Technology and internet companies and smaller, more US -focused companies continued to suffer steep losses.
Technology stocks fell 0.46 percent, with Intel and Apple both down about 1 percent.
Brent crude futures fell 64 cents to $85.65 a barrel, a 0.7 percent loss, by 11:44 a.m. EDT (1544 GMT), having risen to a late 2014 high of $86.74 on Wednesday.
The Aussie, extending losses into a fourth straight session, has now fallen 2.1 percent this month.
Packers rule out WR Cobb; Adams to practice Saturday Cobb said earlier in the week his hamstring had been "feeling better". "When you get in games, it's a different situation". It was the most receiving yards Adams had in a game aside from his 156-yard outing against Tennessee on November 13, 2016.
The Russell 2000 small-cap index was down 1.45% to conclude at 1,647.
The extended bull run in USA equities is now flowing over into yields for the US government debt space as the benchmark 10-year Treasury note yield reached a seven-year high, reaching past the 3.2% mark before settling to its current level of 3.189 as of 12:30 p.m. ET.
The U.S. Treasury selloff on Wednesday was the biggest story in the financial markets. "We haven't seen anything like it since the (2016 presidential) election". Banks and industrial and energy companies, which have struggled for most of 2018, changed place and finished with strong gains.
The pan-European FTSEurofirst 300 index .FTEU3 lost 1.02 percent and MSCI's gauge of stocks across the globe .MIWD00000PUS shed 1.00 percent.
Bank of America Merrill Lynch in a report explained that pre-committing United States dollars 8 billion a month for it over and above the USD 25-30 billion lost in interventions since April will push the overall forex reserves below the critical eight-month import cover mark. Software platform Telaria Inc (NYSE:TLRA) was a top decliner after reporting lower-than-expected preliminary third-quarter results and slashing its full-year guidance.
Tesla stock fell 7.1 percent to $261.95 to end a particularly wild week for the electric auto maker.
Tesla slumped 7.05 per cent after CEO Elon Musk stirred nerves about the settlement of his securities fraud lawsuit by mocking the US Securities and Exchange Commission on Twitter. His criticisms of the SEC don't appear to be company news, but they may have anxious investors who hoped his feed would be a little more boring from now on.
Alabama coach Nick Saban has coached the Tide to five national titles, but never has he had a team like this. Kentucky did get to Texas A&M's 48-yard line in the first quarter, but it committed a false start and.
They found there was no clinically meaningful effect of vitamin D supplementation on total fracture , hip fracture, or falls. Despite recommendations from governmental bodies around the world, vitamin D supplements do not benefit bone health.
While concerns about $100 a barrel oil have run rampant recently, Barclays takes a different approach in its latest prediction. Iran says it has abided by the 2015 nuclear deal, which was struck with five other world powers, besides the United States.
Former Nigerian Vice President Atiku Abubakar attends an interview with Reuters in Abuja, Nigeria May 11, 2018. He said, "Honestly, when we compare Atiku with others, you will see him as somebody who has paid his dues".
The pair then went to the presidential palace to have tea, where Trump was also greeted by President Abdel Fatah al-Sissi. Ford was heard, I'm glad that Judge Kavanaugh was heard, FBI investigation was done, is completed and the Senate voted".
Since mid-August, the prices of petrol and diesel increased by Rs 6.86 per litre and Rs. 6.73 per litre, respectively. The price for petrol was hiked by 18 paise per litre whereas the price of Diesel saw a rise of 29 paise per litre.
Besides the accusations of sexual misconduct, another issue - abortion rights - mobilised the opposition to Kavanaugh. She said the silver lining in the whole is that more women will press charges now when they are sexually assaulted.
The amount of rest time between the fixtures is the same, so it leaves me really struggling to work out what is the difference. But they have gelled magnificently well. 'I see us being stronger as well and that makes it a good game on Sunday'.
Since then, he has spent a year and a bit at Manchester United before recovering from a awful knee injury in his time in America. The confidence of the visiting fans belied the fact that they had yet to win any of their seven league games so far.
Surrounded by reporters-as well protesters yelling at him "Shame!" Manchin, however, has found himself in the firing line. Collins VOTES NO on Kavanaugh OR we fund her future opponent", the campaign, hosted by Crowdpac, is titled.
"It's not like he's out there and coach calls "Cover 3" and he's going to take a knee and let a guy run by him". Expect Barkley to either double his carries this week or have backup Wayne Gallman carry more than twice.
Brett Kavanaugh is sworn in to U.S. supreme court
And now, you can make sure you're registered to vote before screaming, and screaming, and screaming in to the abyss. White House advisers are encouraging him to keep Kavanaugh in the spotlight in the campaign's final weeks.
5 million pounds of beef recalled for possible salmonella
Bill Marler, a Seattle lawyer nationally recognized for his work in food safety, said he hasn't seen a recall this size in years. Officials found two "mentally incoherent" cows laying on their sides and "moaning as if in pain". 267 by the USDAs inspection.
Red Sox choose Nathan Eovaldi to start Game 3 of ALDS
It appears they'll turn to Porcello, though, as Eovaldi suggested he's lined up for Game 4, Rob Bradford of WEEI tweets. Given that the ALDS is only a best-of-five series, Boston won't need Price to start again versus the Yankees .
MI man makes shocking discovery about 30-year-old doorstop
The charred hunk of space debris is the sixth largest meteorite ever found in the state, and it's estimated worth tops $100,000. After analyzing the rock themselves, the Smithsonian Institution researchers confirmed the Sirbescu's first results.
Mattress Firm files for bankruptcy
In a court filing, the company acknowledged "several well-intentioned, but ill-advised, marketing and sales promotions". The troubled bed retailer of scandal-plagued Steinhoff International Holdings NV has 22 stores in MI and 3,400 total.
Kavanaugh sworn into Supreme Court after divisive fight
Kavanaugh has vehemently denied all accusations of misconduct, and McConnell said the report was "reassuring". Dickerson also asked her about Kavanaugh's temperament and partisanship, which her Republican colleague Sen.
Brett Kavanaugh sworn in as 114th Supreme Court justice
Throughout the day Saturday, hundreds of protesters - many dressed in black garb - descended on the east steps of the Capitol. The Kavanaugh vote may be a pivotal moment in the November 6 midterm elections, where control of Congress is up for grabs.
Hazard On Target As Blues Go Top
The Spaniard went ahead to seal Chelsea's 3-0 win at stoppage time , as Hazard slid in for Morata to score from close range. It should be noted that Manchester City and Liverpool have a game in hand each to get back to the top of the table.
BC adds 33300 jobs in September, unemployment plummets
Across B.C., the province added 33,300 jobs last month, pushing its unemployment rate down 1.1 percentage points to 4.2 per cent. Around 13,000 jobs were added in finance, insurance, real estate and rental and leasing, mostly in Ontario and Alberta.