Technology stocks lead USA financial markets lower

Technology stocks lead USA financial markets lower

Technology stocks lead USA financial markets lower

The Dow Jones Industrial Average fell more than 600 points on 12 October local time on the back of Apple shares and oil prices declining, the United States dollar rising and uncertainty around global trade continuing.

The Nasdaq Composite index fell about 2.5 per cent on Monday, hit by a slump in Apple Inc shares after two suppliers cut their forecasts, sparking a selloff in other iPhone component makers and weighing on technology stocks in general. Banks, consumer-focused companies, and media and communications stocks all took heavy losses.

The S&P 500 index fell 46 points, or 1.7 per cent to 2,734.

The Dow Jones Industrial Average fell 602 points, or 2.3 percent, to 25,387. The Nasdaq Composite Index fell 165.59 points, or 2.24 percent, to 7,241.32.

Goldman Sachs stock fell more than 7 percent amid reports Malaysia would seek to have the investment firm pay a multimillion-dollar refund for its role in the 1Malaysia Development Berhad money-laundering scandal.

US Sanctions Targeting Iranian People: President Rouhani
Zarif said Iranians will not just survive but they will thrive without sacrificing the country's sovereignty. Last month, the UN's top court ordered the United States to lift sanctions on humanitarian goods for Iran.

The tech-laden Nasdaq also rose 70 points to 7,271, led higher by Vodafone Group, Nvidia, Ctrip.com International, Wynn Resorts, JD.com and American Airlines Group.

The Russell 2000 is down 20.71 points, or 1.3 per cent.

Meanwhile, the private-equity firm Veritas Capital and the hedge fund Elliott Management reached an all-cash deal to purchase the U.S. healthcare software maker Athenahealth for about $5.7 billion, a 12% premium to where shares closed Friday. Shares of USA chipmaker NVIDIA pulled back 6.90 percent.

The price of oil also fell, with Brent Crude, the global benchmark, dropping to under $69 while West Texas Intermediate, the USA measure slipped to under $59.

After a weekend meeting, the oil cartel announced that Saudi Arabia plans to reduce exports by around 500,000 barrels a day from November to December. Trump on Monday said he hoped OPEC would not cut oil production in order to lift prices.

Real Madrid appoint Santiago Solari as permanent manager
Solari's maiden match as long-term boss is the trip to Eibar in La Liga on Nov 25, following the worldwide break. Last season's Champions League winners Real are four points behind leaders Barcelona in the LaLiga table.

Stocks attempted to bounce earlier in the session amid reports of renewed trade talks between the USA and China. The British pound weakened to $1.2849 from $1.2975 amid concerns that Britain's government is struggling to find unity on a Brexit deal.

The S&P 500 is up 48.57 points, or 1.8 per cent.

MSCI's gauge of stocks across the globe shed 1.19 per cent, on pace for its third straight session of declines. Japan's Nikkei 225 added 0.1 percent, while Hong Kong's Hang Seng rose 0.1 percent.

In Europe, London's FTSE traded lower by 0.2 percent, Germany's DAX was lower by 0.9 percent and France's CAC declined 0.3 percent. The Kospi in South Korea dipped 0.3 percent.

Hate crimes in North Carolina increased 12 percent previous year , Federal Bureau of Investigation says
The 2017 data notes that about 5,000 of the crimes were directed against people through intimidation or assault. Of race or ethnicity-based hate crime incidents both years, about half targeted African-Americans.

Related news