Markets

Markets Right Now: Asian shares fall after rout on Wall St

Markets Right Now: Asian shares fall after rout on Wall St

In Europe, European Central Bank President Mario Draghi said the region's economy is still growing at a solid clip even though there are signs it has weakened somewhat recently.

Stock trading turned volatile in October after a placid summer, with big sell-offs in the sectors that have powered the bulk of the gains during the market's long bull run.

The S&P 500 lost 84.59 points, or 3.1 per cent, to 2,656.10. The Dow Jones Industrial Average dropped one.two percent to 24,688. It was up 512 earlier. The S&P 500 and the Dow Jones Industrial Average erased their gains for the year.

Amazon's shares slumped by 7.6 per cent after they gave a discouraging outlook ahead of the Christmas shopping season, the biggest drop in the company's value for four years. The internet retailer dropped 4.8 percent in aftermarket trading while Google's parent company lost 3.2 percent.

"What makes the latest volatility more troubling is that it's been hard to identify one specific cause", Kerry Craig, global markets strategist at JPMorgan Asset Management, told Bloomberg.

Traders are anxious that rising interest rates and the escalating U.S.

With strong consumer spending offsetting weaker investment and exports, gross domestic product rose at a seasonally adjusted 3.5% in the third-quarter.

"There's a sense of nervousness and caution because a lot of people were caught off guard by the drop yesterday", said Scott Brown, chief economist at Raymond James in St Petersburg, Florida.

Warne said over the last couple of weeks, investors have dumped shares of companies that reported weak results, while companies that surpassed expectations aren't getting rewarded much. She expects that to change when the dust settles.

The most recent bear market began in 2007, when the USA financial crisis crippled everything from the housing market to stock market investors.

The S&P 500, the benchmark for many index funds, is now 9.4 percent below the peak it reached in September. But huge companies like Microsoft, Alphabet and Amazon.

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Cousins was arguing with an official during a timeout at Madison Square Garden in the first quarter and the ref simply had enough. Newhouse School of Public Communications at Syracuse University and joined ESPNChicago.com for its launch in April 2009.

Disappointing quarterly results and outlooks have stoked investors' jitters over future growth in corporate profits, a key driver of the stock market. Amazon is the second-most valuable USA stock and Alphabet is fourth.

United States stocks tumbled Friday as a technology rout rattled markets around the world, days after concerns about rising rates and the prospect of slowing global economic growth had wiped out Wall Street's gains for the year.

The Dow tumbled 608.01 points, or 2.4 percent, to 24,583.42. Copper dipped 0.5 percent to $2.74 a pound.

ENERGY: Benchmark U.S. crude fell 0.7 percent to $66.88 a barrel in NY. Intel, due to report earnings later this week, fell 4.7 percent. The Nasdaq composite gave up 9 points, or 0.1 per cent, to 7,427.

Technology companies soared as Microsoft, Visa and Xilinx rallied after their quarterly reports, while Twitter and Comcast led the way for internet and media companies.

Major equity indexes in the US started the day on the back foot and extended their slide before staging an unimpressive recovery in the second half of the session.

Bond prices also rose, sapping yields, as traders sought safe-haven investments.

In other trading, benchmark US crude lost 71 cents to $66.11 per barrel in electronic trading on the New York Mercantile Exchange. Britain's FTSE 100 slid 1.3 percent. The S&P discretionary index fell 3.6 per cent.

Gold rose 0.1 percent to $1,232.40 an ounce.

"It's all been driven off quarter reporting", said Ernesto Ramos, portfolio manager for BMO Global Asset Management in Chicago.

The dollar fell to 111.85 yen from 112.61 yen on Thursday. The fall came after the online retailer and cloud computing heavyweight reported that its quarterly net sales rose to $56.58 billion from $43.74 billion a year earlier.