Dow Down Over 1,000 Points Over Two-Day Span

Shares in Facebook Amazon Apple Netflix and Google’s parent company Alphabet all fell in New York trading

The S&P 500 index fell 4 points, or 0.1 percent, to 2,781. Companies that have been the biggest winners on the market the last few years, including technology companies and retailers, suffered steep declines. Investors see many of these countries as being vulnerable to higher US interest rates, which can pull away investment dollars. "I think the Fed is out of control", the president said to reporters in the Oval Office.

Stephen Innes of OANDA said that Trump's comments have put pressure on the dollar but "the severity of this equity rout could bring the hawkish Fed narrative into question".

"As stocks go up, tech goes up more than the stock market". Amazon skidded 4.8 per cent to $1,781.21 (U.S.). Boeing and Caterpillar have both fallen more than 5% this week as Trump continues to threaten additional tariffs, saying Thursday he could "do a lot more" in his trade war with Beijing. The International Monetary Fund cut its outlook for global growth this week, citing interest rates and trade tensions. It was at just 3.05 percent early last week and 2.82 percent in late August.

The drop in yields hurt banks, and JPMorgan Chase fell 3 percent to $1078.13 while Bank of America sank 3 percent to $28.36. Australia's S&P/ASX 200 slipped 2.4 percent to 5,906.00.

Investors may want to shift out of momentum and into more defensive stocks - companies that aren't as expensive and also pay healthy, stable dividends.

Innes, the Singapore-based head of Head of Trading for Asia Pacific with OANDA, attributed the slide to a combination of factors, including the possibility further interest rate hikes and the battle over tariffs between the USA and China.

The tumble came after the Dow Jones industrial average closed 831.83 points lower, its third-worst point decline ever, in NY trading on Wednesday amid concerns over a rise in interest rates.

Order Of Service For Princess Eugenie’s Wedding Revealed
In the evening, guests will celebrate at a smaller evening reception at Royal Lodge, the York family home. George's Chapel at Windsor Castle - the same location as Prince Harry and Meghan's wedding in April.

Venom Sets October Box Office Record With $80 Million Opening Weekend
But this exceptional box office debut is noteworthy for more reasons than one. A bankable Oscar-bait movie and a hit superhero flick?

Google+, Google’s social network, to shut down after bug exposes users’ data
It opted not to report it, "in part because of fears that doing so would draw regulatory scrutiny and cause reputational damage". But Google says it has no way of confirming these numbers or which users may have had their data exposed improperly.

The S&P 500 and tech-heavy Nasdaq joined in Wednesday's carnage, falling 3.3 percent and 4.1 percent, respectively.

At 12:44 p.m., the Nikkei 225 average traded at 22,496.24, down 1,009.80 points, or 4.30 percent, from Wednesday's closing. The Dow and other major USA stock indexes fell more than 3%.

Apple and Amazon, the two most valuable companies in the S&P 500, each had their worst day in 2½ years. Amazon and Alphabet, respectively the second- and fourth-most valuable US companies, are in what's known as a "correction", a drop of more than 10 percent from a recent peak. That's still sharply higher than it was about a week ago, and earlier this week the yield on the 10-year note reached its highest level since mid-2011.

"It's a risk-off environment as investors are focusing on spiking yields and taking profits off the table as they are concerned about whether the bull market is actually coming to an end", said Ryan Nauman, market strategist at Informa Financial Intelligence in Zephyr Cove, Nevada. "The valuation of USA stocks, especially tech stocks, is still pretty high and there could be some profit taking actions now", Tan explained. The euro rose to $1.1525 from $1.1496.

US crude dropped 3 percent while Brent crude, the global standard, dropped 3.4 percent.

"There is more optimism that they will find some agreement between Britain and the European Union before Brexit", said Steve Englander, global head of G10 FX research at Standard Chartered Bank in NY.

Bear markets since 1975 have had far lower percentage drops at their bottom, even as markets have grown remarkably in inflation-adjusted dollars.

Related news:

Hot News

isis-killer-beheading-video-story-top Pet Sematary Directors Expect An R Rating
Oct 11, 2018 - 04:13
For who will be portarying these characters, it was announced that Jason Clarke and Amy Seimetz playing Louis and Rachel Creed. While the synopsis is a thing of nightmares, the translation of the film to an actual trailer is pretty horrifying.

isis-killer-beheading-video-story-top First Alert Weather: Michael forecast to become a major hurricane, impact Suncoast
Oct 11, 2018 - 04:02
"This storm will be life-threatening and extremely risky ", Scott said in a news briefing . "Do not think you can survive it". The rainfall could lead to "life-threatening" flash floods and mudslides in mountainous regions, the hurricane center said.

isis-killer-beheading-video-story-top Hurricane Michael picks up steam overnight
Oct 11, 2018 - 04:02
The hurricane made a direct hit on New Orleans as a Category 3 storm , causing levees and flood walls to fail in dozens of places. The National Hurricane Centre has described the life-threatening winds and heavy rainfall as " potentially catastrophic ".

isis-killer-beheading-video-story-top The real reason why Camilla is not going to Princess Eugenie's wedding
Oct 11, 2018 - 03:57
The Earl and Countess of Wessex's children, Lady Louise Windsor and Viscount Severn will be special attendants on the day. Other adorable throwback snaps released by the royals show the pair as young children, long before their love story began.

isis-killer-beheading-video-story-top Philadelphia 76ers out of Jimmy Butler trade conversation, according to Sam Amick
Oct 11, 2018 - 03:16
Because of the timing, it may put the Minnesota Timberwolves in an awkward place when it comes to finding a trade destination. Minnesota shared Butler's medical info with Miami , owners were involved and sides prepared to finalize.

isis-killer-beheading-video-story-top Sony on PlayStation 5: "it’s necessary to have a next-generation hardware"
Oct 10, 2018 - 03:01
He remained coy about any further details, and declined to confirm whether or not the system would be called the PlayStation 5 . It stopped short of calling it a PlayStation 5 , but Sony has acknowledged it's busy creating new video games hardware.

isis-killer-beheading-video-story-top Second suspect in poisoning of ex-Russian spy named
Oct 10, 2018 - 02:31
Last week, the Justice Department filed criminal charges against seven members of the GRU, accusing them of hacking into the U.S. The attack, which targeted ex-spy Sergei Skripal, is believed to have been ordered by senior Russian leadership.

isis-killer-beheading-video-story-top Adrian Peterson of Washington Redskins set for MRI after injuring shoulder
Oct 10, 2018 - 02:17
After rushing for six yards and catching two passes for 36 yards, he left the game after just two snaps in the second half. Brees surpassed Hall-of-Famer Johnny Unitas' streak of 47 straight - which had stood since 1960.

isis-killer-beheading-video-story-top The Chaser Projected Alan Jones Phone Number Onto Sydney Opera House
Oct 10, 2018 - 02:13
An image from the Racing NSW submission to the Opera House. "Call Alan" onto the famous building. He said he didn't bully her but acknowledges that "there were people who thought he did".

isis-killer-beheading-video-story-top Scepticism over Turkish probe of Khashoggi disappearance
Oct 10, 2018 - 01:51
The Saudi Consulate insists Khashoggi left its building, contradicting Turkish officials who say they believe he is still there. In his first remarks about the disappearance, President Trump told reporters Monday afternoon that he was concerned .

isis-killer-beheading-video-story-top United States ambassador to United Nations resigns
Oct 10, 2018 - 01:42
But on one issue that raised speculation, Ms Haley dismissed any presidential run against her current boss in 2020. Elected as the state's first female governor in 2010, she was in her second four-year term when Trump picked her.

isis-killer-beheading-video-story-top Kavanaugh sworn into Supreme Court after divisive fight
Oct 09, 2018 - 03:25
This was a sentiment echoed by Democrats , who had hoped the bureau would interview more people as part of the investigation. Lisa Murkowski (R-Alaska), who said she would be a no vote, voting present to make up for her Republican colleague Sen.

isis-killer-beheading-video-story-top New details and images leak of Google's upcoming Pixel Slate tablet
Oct 09, 2018 - 03:24
There are no further details for the device as of this moment, However, we are hoping to find out more at Google's event tomorrow. The rear camera can apparently shoot video at up to 4K quality at 30 frames per second, while the front one tops out at 1080p.

isis-killer-beheading-video-story-top Google+ is Dead, Survived By Better Privacy Controls
Oct 09, 2018 - 02:33
There were no phone numbers, email messages, timeline posts, direct messages or any other type of communication data. The company said it didn't report the breach partly due to fears of regulatory scrutiny.

China Tells the US to Stop Criticizing Beijing's Policies
Oct 09, 2018 - 01:02
During Mr Pompeo's last visit to Pyongyang in July, he was denounced for making "gangster-like demands". On Sunday , Pompeo met Kim during a trip to Pyongyang, his fourth visit to the country this year.