Dow trades 500 points lower as trade war worries continue

Dow down 767 points today - Newswatch

The market's turbulent turn comes less than two weeks after the benchmark S&P 500 hit an all-time high. Too expensive to buy in China. -China trade dispute could hurt the global economy.

In Europe, Germany's DAX rose 0.7% percent to 11,745 while France's CAC 40 was up 1% at 5,295. That's better than the almost 3% drop expected earlier.

The Dow Jones Industrial Average dropped 767 points or roughly or 2.9 percent.

The Nasdaq Composite was down 221.50 points, or 2.77%, at 7,782.57.

United States stocks finished well in the red on Monday, following on from heavy losses seen across Asian indices overnight. Many stock indexes around the world recorded their worst day so far this year as fears mounted of an escalating trade war. Those concerns have grown as the conflict heated from a simmer to a boil last week, even as both sides resumed negotiations.

Menendez said: "This will stop Chinese firms from hiding behind the Communist Party's efforts to take advantage of our capital markets by withholding accounting information". The biggest threat coming out of the past week, he said, is that all the uncertainty about trade will scare CEOs and shoppers away from spending.

China stabilised the yuan on Tuesday and that helped lift USA stocks a day after they endured their worst day of the year. Animal health company Zoetis climbed 6.8% and led health care stocks higher.

CVS Health Corp rose 6.03 percent after the drugstore chain posted profit above estimates, boosted by strong sales in the Aetna health insurance business it acquired a year ago. The price of oil slumped nearly 5%.

Samsung makes their powerful Exynos 9825 7nm processor official
To wet the whistles of its fans, the Korean giant has gotten the ball rolling by making its new Exynos 9825 SoC official. Officially, the chipset can support a 16MP + 16MP dual configuration or a single 22MP primary sensor for the main camera.

NCAA rule restricts Rich Paul's access to potential new clients
The Athletic's Sam Vecenie obtained a copy of the NCAA memo detailing the new requirements , confirming the original report. Per the new NCAA rule, Paul is not eligible to advise NCAA players who wish to maintain their college eligibility.

Hong Kong protesters seek to shut down city with general strike
China promised Hong Kong a high degree of autonomy when it regained sovereignty over the territory from Britain in 1997. At the same time, Yang said Hong Kong authorities are capable of bringing under control the situation in the city.

These "safe haven" assets tend to include gold, the Japanese yen, government bonds, defensive stocks and cash. The yield on the 10-year Treasury briefly rose to 1.77 percent, but then declined to 1.72 percent, down from 1.73 percent late Monday.

With the second-quarter earnings season winding down, about 73 percent of the 426 S&P 500 companies that have reported results so far have topped earnings estimates.

It rose by 0.7 percent to its highest since a January flash crash with the currency up 0.5 percent at 106.04, after hitting 105.78 earlier in the session.

The interest-rate sensitive S&P 500 banks sub-sector slipped 3.26%.

Stocks are sinking on Wall Street again as fearful investors dumped stocks and shoveled money into bonds. The S&P 500 also posted a six-day shedding trot. Novartis is the parent company of AveXis, which makes the drug. That helped pull energy sector stocks lower. Mallinckrodt tumbled 12%, McKesson dropped 3.9%, AmerisourceBergen slid 5.2% and Teva Pharmaceuticals slumped 9.8%.

As of Wednesday afternoon, the yellow metal was trading at US$1,506.62, over a 2% increase for the week and well above the US$1,200 mark it sat at this time past year. Brent crude oil, the global standard, fell 87 cents to close at $58.94 a barrel. The Nasdaq fell 244 points, or 3.1%, to 7,759. Brent crude oil, the global standard, fell $2.08 to $59.81 a barrel. Heating oil declined 7 cents to $1.75 per gallon.

The legislation would immediately impact the 156 Chinese companies with combined market capitalizations of about $1.5 trillion, including 11 huge state-owned-enterprises, that are already listed on us stock exchanges, plus dozens of Chinese tech firms potentially worth hundreds of billions of dollars that are lined up to list on the NASDAQ.

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