How the markets reacted to Trump's tariffs talk

E-mini Dow Jones Industrial Average

Some traders took that as a signal that the Fed may raise rates more quickly than expected. (NASDAQ: FTR) which traded down nearly 24% at $7.03.

"It's helping about a dozen stocks in those industries but has raised the specter of trade wars, and trade wars don't help the stock market".

Thursday's heavy dose of economic news may be dominated by the Federal Reserve Chief Jerome Powell, as he steps before the Senate Banking Committee for his second day of testimony this week.

The S&P 500's wild ride in February ended with the benchmark index falling by the most in two years.

Investors are particularly interested in hearing where he sees interest rates this year.

The S&P 500 and Dow Jones were down 1.1% and 1.5% respectively by market close on Wednesday, causing the S&P 500 to drop 3.9% in February marking its first monthly drop since March 2017, thereby ending a market rally last seen between March 1958 and January 1959.

When U.S. markets opened for trading, the S&P 500 lost as much as 1.1 percent to join a worldwide sell-off after President Donald Trump doubled down on "trade war" talk.

Egypt court voids rulings on Saudi island transfer
After his visit to Egypt, Bin Salman will head to the United Kingdom on 7 March and to the United States on 19 March. The government then said Tiran and Sanafir belong to Saudi Arabia but had been leased to Egypt in the 1950s.

Trump has 'autocratic envy' toward Putin — Ex-CIA director
And in a touch of dark humor, he invited Russians to join a Defense Ministry contest to name some of the weapons. For the US there is no need for great alarm, but a keen eye must be kept on the aggressive Kremlin.

Most of the North Koreans against the nuclear programme: US Survey
The U.S. and South Korea are expected to hold joint military drills this spring to prepare for the possibility of a conflict with North Korea .

SEC CALLING: Overstock.com dropped 5 percent after the online retailer disclosed in a regulatory filing that the Securities and Exchange Commission asked the company last month for information about a $250 million offering by its blockchain subsidiary, tZero, related to digital tokens.

On Tuesday, Powell gave an upbeat view on the US economy and said data had strengthened his confidence on inflation.

Dental supplies maker Patterson Companies plunged 22 percent after reporting weak earnings for the latest quarter. Over the final seven trading days of the month, the Dow did not move fewer than 164 points in either direction. Shares of the company, which sells dental and animal health products, dropped $7.47, or 23.7 percent, to $24.11.

On the commodities front, the April crude contract was down 65 cents to US$60.99 per barrel and the April natural gas contract was up three cents at US$2.70 per mmBTU. The index is coming off its worst month in two years, when concerns about higher inflation and rates helped trigger a 10 percent drop. Brent crude, the worldwide standard, lost 62 cents to $64.11 per barrel.

The April gold contract was down US$12.70 to US$1,305.20 an ounce and the May copper contract was down one cent to US$3.12 a pound. London's FTSE 100 was down 0.7% in afternoon trade.

Shares in L Brands Inc.(LB) tumbled 10% after the Victoria's Secret parent late Wednesday gave a quarterly outlook that appeared to disappoint Wall Street (http://www.marketwatch.com/story/victoria-secrets-l-brands-stock-tanks-on-expectations-of-lower-q1-profit-2018-02-28). In Asia, Japan's Nikkei 225 lost 1.6 percent and Hong Kong's Hang Seng rose 0.6 percent.

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