Wednesday, 23 October, 2019

Stocks Slide to Extend to Asia as Treasuries Rally

For starters the president’s tweets overmagnify the importance of a 10 percent tariff on $300 billion which is $30 billion — nothing to a $20 trillion economy like ours Enlarge Image Donald Trump Getty Images
Russell Knight | 13 August, 2019, 21:26

Asian stock markets followed Wall Street lower on Tuesday amid anxiety the US-Chinese trade war will hurt already slowing global economic growth. Hundreds of flights to and from Hong Kong were canceled on Monday as protests forced the shutdown of the city's airport.

"The global economy is perched precariously, hoping for a positive inflection, but braced for a stumble", said Vishnu Varathan of Mizuho Bank in a report.

The Dow closed 391 points lower on Monday, even as fears that ongoing tensions between the United States and China could lead to a global recession mounted. NY time.The Stoxx Europe 600 Index rose 0.5%.The MSCI Asia Pacific Index decreased 1.3%.The MSCI Emerging Market Index decreased 1.3%.

The grim backdrop was enough to push investors into safe-havens, and US Treasury yields dropped across the board on Monday as trade worries and political tensions supported safe-haven assets.

The protests began two months ago in response to a controversial extradition bill between Hong Kong and mainland China.

Investors were rattled by a Chinese government statement Monday saying the mostly nonviolent Hong Kong protests "show the sprouts of terrorism" and were an "existential threat" to the population. The Dow fell 1.5 percent, or 389.73 points, to 25,897.71.

Microsoft Corp and Amazon.com Inc fell about 0.6% each, weighing heavily on the S&P 500.

Goldman Sachs Group Inc said on Sunday that its economists see recessionary risks increasing as the trade war between the world's two largest economies drags on, and no longer expect a resolution before the 2020 USA presidential election.

About 15 minutes into trading, the Dow Jones Industrial Average lost 0.8 per cent to 26,083.00, and the broad-based S&P 500 dropped a similar amount to 2,895.18.

Technology, health care and consumer discretionary stocks accounted for much of the market's decline.

Meanwhile, gold prices zoomed to the highest in more than six years on Tuesday after investors shunned riskier assets and sought the comfort of gold and other safe assets. The new tariff would go into effect September 1 and more directly affect USA consumers. South Korea's Kospi index added 0.5%.

$3 million Fortnite winner-and his parents-become latest swatting targets
Last month, 16-year-old Kyle Giersdorf won $3 million when he was crowned champion of the Fortnite World Cup in NY . The Upper Pottsgrove Township Police Department did not immediately respond to a request for comment from NBC News.

Irish boy critically ill after being discovered in pool in Spain
The boy was found floating in the Cabo Roig urbanisation pool in Orihuela, Alicante at approximately 9.15am this morning. The emergency services attended and he was airlifted to hospital, the Diario Información media services reported.

Ebola drugs trial shows '90pc survival rate'
What impact could the drugs have? Jeremy Farrar, Wellcome Trust director, said the new treatment would "undoubtedly save lives". The World Health Organization has chose to narrow an experiment with Ebola patients to two treatments that show real promise.

"There are just negative stories from every corner of the globe you look at, not independently, but when you piece them together it becomes overtly negative".

Italian markets had tumbled last week when Salvini pulled his support from the coalition arrangement at the center.

Adding to the concerns of a global recession, Argentina's currency and equities fell after the country's incumbent president suffered an unexpected defeat in primary presidential elections.

Second-quarter earnings season will be all but in the books after this week. The 30-year Treasury yield is nearing all-time lows. Viacom shares fell 3.6%.

Shares of tour operator TUI rose over 3 percent after it said robust business outweighed problems with the grounding of Boeing's 737 MAX jets in the third quarter and upheld its annual earnings outlook.

Real estate and utilities stocks posted the smallest declines.

West Texas Intermediate crude sank 0.8 per cent to US$54.47 a barrel.

The contract gained 43 cents on Monday to close at $54.93. The market mood has been hit by steep losses in the previous session. Brent crude, used to price worldwide oils, declined 19 cents to $58.38 per barrel in London.

China on Monday again kept the midpoint trading rate of the yuan slightly above RMB7.00 to $1.00.

The dollar fell to 105.27 Japanese yen from 105.57 yen on Friday.

Recommended

  • Singapore slashes annual growth forecast on fears of recession

    Singapore slashes annual growth forecast on fears of recession

    The construction sector expanded by 2.9 per cent year-on-year, extending the 2.8 per cent growth in the first quarter. On May 21, the Government shaved the upper end of that forecast , which was revised to 1.5 per cent to 2.5 per cent.
    Eddie Murphy Plays Rudy Ray Moore in Netflix’s ‘Dolemite Is My Name’

    Eddie Murphy Plays Rudy Ray Moore in Netflix’s ‘Dolemite Is My Name’

    If you're new to Dolemite lore, you can find collections of the old movies on Amazon as well as some of Moore's other works. Let's take a second to give props to Netflix for rounding up such an unbelievable cast for Dolemite Is My Name .
    Norwegian police say mosque shooting is a terror attempt

    Norwegian police say mosque shooting is a terror attempt

    He has not been named by authorities nor has the motive in the attack; he has been charged with murder and attempted murder. Manshaus, who briefly smiled at photographers, does not admit to any crime, his lawyer said earlier on Monday.
  • Team India’s Shortlisted Head Coach Candidates And Their Experience

    Team India’s Shortlisted Head Coach Candidates And Their Experience

    Since his retirement from all forms of cricket in 2004, the former India all-rounder has been extensively involved in coaching. A year later, he saw himself become the head coach of the Indian cricket team for the first time - for a period of two years.
    Ex-NBA journeyman Telfair sentenced for gun possession

    Ex-NBA journeyman Telfair sentenced for gun possession

    In total, they found three loaded pistols, a gas-operated submachine gun, extended magazines, ammunition and the ballistic vest. As a point guard at Abraham Lincoln High School in Brooklyn, he was on the cover of Sports Illustrated in 2004.
    'Lion King' remake passes 'Frozen' as highest grossing animated film

    'Lion King' remake passes 'Frozen' as highest grossing animated film

    The Lion King earned $473.1 million in the USA while it collected a whopping $861.5 million overseas. The Lion King recorded the second-biggest collection in China.
  • FIRST ALERT WEATHER Day issued for Tuesday due to unsafe  heat

    FIRST ALERT WEATHER Day issued for Tuesday due to unsafe heat

    IMPACTS.Dangerously high temperatures and humidity could quickly cause heat stress or heat stroke if precautions are not taken. An Excessive Heat Watch has been issued for Wednesday and Thursday of this week, according to the National Weather Service.
    Johnson to build new prisons costing £2.5bn

    Johnson to build new prisons costing £2.5bn

    Over the course of this week Johnson wants to unveil new sentencing plans in a bid to tackle rising violent crime across the UK. As well this alternative community sentences are being beefed upped. "This can not go on".

    Three officers were shot in California Monday

    Gavin Newsom said in a statement. "In honor of Officer Moye, Capitol flags will be flown at half-staff". Investigators didn't immediately know where the gunman came from or where he was headed, Diaz said.
  • Taylor Swift responds to those 'Drunk Taylor' memes

    Taylor Swift responds to those 'Drunk Taylor' memes

    No matter what anyone tells you, getting drunk and lip-synching your own song is never a mistake. Soon Drunk Taylor amusing memes surfaced online, and Taylor seems Ok with it.
    Iraq slams Israel participation in Gulf naval mission

    Iraq slams Israel participation in Gulf naval mission

    Katz said Israel's participation would help to contain the Iranian threat as well as boost ties in the Gulf region. Katz didn't claim Israel had ships in the Persian Gulf.
    Pound Sterling At 2-Year Low As UK Economy Shrinks

    Pound Sterling At 2-Year Low As UK Economy Shrinks

    Adding to the pound's woes, industrial production and manufacturing figures also missed expectations by large margins. The ONS said companies had been building up additional goods in the first quarter in anticipation of a March Brexit .

Facebook is finally testing Dark Mode Facebook is finally testing Dark Mode One of the next apps looking to join the dark side is arguably one of the most popular apps in the world - Facebook . Facebook is working on a dark mode for its mobile app giving you an alternative to the current stark white design.

UN investigating slew of North Korean cyberattacks on financial bodies UN investigating slew of North Korean cyberattacks on financial bodies South Korea has been one of the country's main targets in such campaigns and this report only further confirms the fact. South Korean crypto exchange Bithumb has allegedly been hacked at least four times by their northern neighbors.

Remove false teeth before general anesthetic, doctors warn Remove false teeth before general anesthetic, doctors warn A "metallic semicircular object" was covering his vocal cords, "completely obstructing their view", the report said. As tests revealed the bleeding had stopped, he was sent home, only to reappear 10 days later with the same problem.

Cuccinelli rewrites Statue of Liberty poem to make case for limiting immigration Cuccinelli rewrites Statue of Liberty poem to make case for limiting immigration But the new rules will affect those Indians who are not well-off and maybe using public benefits or appear likely to require them. "Give me your exhausted and your poor who can stand on their own two feet, and who will not become a public charge".

Dak Prescott seeking $40 million from Cowboys Dak Prescott seeking $40 million from Cowboys According to SpoTrac, Seattle quarterback Russell Wilson is the highest paid at his position, making $35 million per season. But we know this: paying Prescott $40 million annually, like appeasing the wholly unreliable Elliott at all, ain't it.

Australia should reduce emissions, coal mining - Pacific leaders Australia should reduce emissions, coal mining - Pacific leaders But host Tuvalu will be ensuring their visitors can't avoid their biggest challenge: climate change and its threat to the nation's fragile reefs.

Former id Software boss joins World War Z studio Former id Software boss joins World War Z studio Willits also says that Saber is now investigating other sports that they could explore within their Playgrounds series. Despite having more than 500 employees around the world, Saber Interactive remains an independent studio.

Our galaxy’s supermassive black hole is acting weirder than normal Our galaxy’s supermassive black hole is acting weirder than normal Their data could reveal different aspects of the physics of the change in brightness, and help us understand what Sgr A* is up to. A burst of radiation has captured the attention of astronomers observing a supper massive black hole at the center of our galaxy.

Slain CHP officer honored with procession, official tributes Slain CHP officer honored with procession, official tributes Debbie Howard, Moye's stepmother, told reporters she texted him when she happened to see numerous squad cars speed past her. The driver then pulled a rifle from inside their vehicle and began firing at the patrolman, according to the report.

Trump Says US Delayed Tarriffs on Chinese Goods Due to 'Christmas Season' Trump Says US Delayed Tarriffs on Chinese Goods Due to 'Christmas Season' Stocks shook off an early stumble and edged higher on Wall Street led by gains in technology and health care companies. The news sent the stocks of US companies that make electronics, shoes and toys sharply higher.

USA delays tariffs on cellphones, laptops and toys from China USA  delays tariffs on cellphones, laptops and toys from China The products include mobile phones, laptops, video game consoles, some toys, computer monitors, and certain footwear and clothing. Trade Representative says the rest of the tariffs on Chinese imports scheduled to kick in on September 1 will continue.

Date set for major court showdown over no-deal Brexit Date set for major court showdown over no-deal Brexit However, despite requests from petitioners, he refused to not heard the case in the Outer House of the Court of Session in order to speed up the process.

Bystanders use chairs, milk crate to trap knife-wielding man Bystanders use chairs, milk crate to trap knife-wielding man Seven Network cameraman Paul Walker - who filmed the 21-year-old man being detained - said the man was "full of blood". He said he was known to police but "his history was unremarkable compared to the gravity of the crimes he committed".

‘Friends’ To Be Released In Theaters For Its 25th Anniversary - Details! ‘Friends’ To Be Released In Theaters For Its 25th Anniversary - Details! According to Warner Brothers, the episodes will include never-seen-before content and exclusive interviews. Aniston, Cox and Kudrow reunited in June after Aniston voiced interest in an official reunion.

Police say manhunt suspects killed themselves, guns found near bodies in brush Police say manhunt suspects killed themselves, guns found near bodies in brush McLeod and Schmegelsky had not been seen since July 22 , just before police discovered their charred vehicle in a remote area. McLeod and Schmegelsky themselves were originally considered missing persons and only became suspects later.