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.
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.
Atiku Abubakar emerges PDP’s presidential candidate 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 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.
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.
But on Friday Unilever recognised that the proposal had not received support from a significant group of shareholders. Unilever was formed in 1929 with the merger of UK's Lever Brothers and the Dutch company Margarine Unie.
While SpaceX has launched a rocket from Vandenberg AFB in July , its landing took place on a drone ship in the Pacific Ocean. The Falcon 9, now on base at California's SpaceX launch pad will take off on Sunday night at 7:21 p.m.
The software lock will engage in different circumstances for the 2018 MacBook Pro and the iMac Pro though. The problem isn't just about Apple wanting users to go to it, rather than to a third party, though.
Navy ships from 15 nations are scheduled to gather on South Korea's Jeju Island next week - for an worldwide fleet review. The flag also serves to identify the nationality of Japanese naval vessels under worldwide maritime law, he said.
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 .
"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.
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".
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.
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.
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.
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.
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.
Brett Kavanaugh Sworn In As Newest Supreme Court Justice
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.
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.