|Day's Range||7,260.13 - 7,438.88|
|52 Week Range||6,517.93 - 8,133.30|
Trade tensions and midterm elections could be adding to market slide but the concern about what the Fed will do in the future is also exacerbating the problem. Yahoo Finance's Seana Smith, Adam Shapiro, Brian Sozzi and Timothy Chubb CIO of Univest Wealth Management discuss.
Live from the floor of the New York Stock Exchange, Yahoo Finance's Jared Blikre joins Alexis Christoforous to discuss the latest market moves.
Gold, yen and Treasuries all rallied as investors sought havens. The Russell 2000 Index briefly turned negative for the year as investors grew concerned that the trade war and rising interest rates have put an end to runaway expansion of corporate profits. “The general sentiment among investors is they’ve gotten accustomed to having stable markets so when volatility rears its ugly head, they worry about it a lot more,” said Andy Kapyrin, director of research at RegentAtlantic, which has $3.7 billion in assets under management.
Wall Street sank on Tuesday, continuing a punishing month for U.S. stocks, as dismal outlook from industrial bellwethers Caterpillar and 3M sparked concerns over corporate growth and added to worries ranging from China's slowdown to Saudi Arabia's diplomatic isolation. The Dow Jones Industrial Average is 6.83 percent down from its all-time closing high and the Nasdaq 9 percent. Caterpillar tumbled 5.8 percent after the heavy-duty equipment maker maintained its 2018 earnings forecast, after having raised it in the previous two quarters.
Wall Street isn’t just wrangling with a wall of amorphous worries, it is facing a painful downdraft that implies further market pain ahead, says at least one analyst.
Investing.com - Wall Street opened sharply lower on Tuesday with the Dow falling triple digits as a raft of geopolitical and economic concerns soured sentiment for global equities and weak earnings reports added to risk-off sentiment.
The stock market opened with a resounding thud on Tuesday morning, as the Dow Jones Industrial Average at one point had shed more than 500 points. The S&P 500 and the Nasdaq Composite endured even harder hits, down more than 2% each. Here’s the case for things getting worse before they get better.
At its lowest point Tuesday, the index was 10.7 percent below its all-time intraday high. Amazon, Intel, Alphabet, Twitter and Snap all report quarterly earnings later this week, followed by Facebook and Apple next week. Investors are dumping their favorite tech stocks and pushing the Nasdaq into correction territory Tuesday.
11:27 a.m. There goes the S&P 500’s200-day moving average. The Nasdaq Composite has slumped 1.8% to 7337.44. The S&P 500, meanwhile, has dropped 1.6% to 2,713.04, and the drop has brought it through the 200-day moving average at 2768.
Wall Street sank on Tuesday as disappointing forecasts from industrial bellwethers Caterpillar and 3M triggered alarm bells over corporate growth and added to concerns ranging from China's slowdown to Saudi Arabia's diplomatic isolation. The Dow Jones Industrial Average fell to its lowest since July, while the S&P 500 and the Nasdaq retreated to levels last seen in May, continuing a punishing month for U.S. stocks.
Stocks face a punishing Tuesday following earnings disappointment and as a two-day rally for China’s stock market gave way to renewed selling.
The U.S. dollar fell on Tuesday after Wall Street opened lower, spurring a risk-off move that benefited the safe-haven Japanese yen and Swiss franc against the greenback. The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite were all around 2 percent lower at mid-morning, dragged down by disappointing earnings from industrial bellwethers Caterpillar Inc and 3M. The dollar/yen is moving almost tick-to-tick with stocks," said David Gilmore, partner at FX Analytics.
DEEP DIVE Trading in the U.S. stock market started on a sour note Tuesday, following disappointing earnings reports from two venerable industrial companies and a sell-off in Chinese markets. The Dow Jones Industrial Average (DJIA) was down as much as 1.
Wall Street seems to be following an overnight selloff in Asian and European shares. Trade tensions appear to continue to be a dominant worry among market participants, and that was underscored after Caterpillar Inc. (NYSE: CAT) blamed tariffs for helping to push up its manufacturing costs. Before the pace of selling accelerated overseas, trepidation ahead of earnings appeared to weigh on the U.S. market Monday as nerves have already been frazzled by higher interest rates, continuing trade tensions and coming elections.
U.S. stocks, including Caterpillar and Fastenal, are increasingly citing the impact of tariffs on their earnings.
October is living up to its reputation as a volatile month for stocks with major indexes down sharply and there is likely more pain ahead for investors, according to one prominent Wall Street analyst.
U.S. stocks opened sharply lower Tuesday, joining a global stock market downturned sparked by a renewed fall by Chinese equities and amplified by a round of disappointing earnings, including results from Dow components Caterpillar Inc. and 3M Co. The Dow Jones Industrial Average fell more than 400 points after the opening bell and remained down 331 points, or 1.3%, at 24,986, while the S&P 500 dropped 1.4% to 2,718. The Nasdaq Composite shed 1.6% to 7,351. Shares of Caterpillar dropped 8% to lead Dow decliners, while 3M lost 5.8%.
Safe haven currencies, such as the dollar and the yen, hoard gains as investors shed risk amid rising tensions linked to the Jamal Khashoggi murder and the ongoing budget and Brexit negotiations in Europe.
Credit Suisse’s Jonathan Golub says an upsurge in volatility may be feeding on itself leading to further wobbles in a market that was on the verge of busting higher just a month ago.