USA stocks drop in another dizzying day for markets

The logo for U.S. Steel appears above a trading post on the floor of the New York Stock Exchange on Friday. With his proposed tariffs the president has drawn the blueprints for the most protectionist U.S. trade policy in roughly 100 years

The S&P 500 ended down 3.9%, also its worst decline since January 2016.

The S&P 500 increased 3.35 points, or 0.12 per cent, to 2,717.18. "There's uncertainty around that and it's going to continue for the next several months".

US stocks sold off late to end sharply lower on Wednesday, dragged down by continued worries over rising interest rates, and the Dow and S&P 500 capped their worst months since January 2016.

The president told industry executives Thursday he would impose a tariff of 25 per cent on imported steel and 10 per cent on aluminum, sparking fears the move will lead to other countries putting up trade barriers that will hurt the global economy.

The fall - by more than 1%, again for a third day in a row for the Dow - the first time in two years that it has fallen 1% or more three days straight - pushed the ASX futures market lower as well. "We are seeing some attempts to undermine this very foundation of the bull market, and it doesn't bode well for S&P 500 companies and their global peers". Later in the week, though, Powell may have calmed some of the fears when he said that he does not see inflation in wages "at a point of acceleration".

Earlier in the week, Powell's testimony helped send Treasury yields jumping and stocks tumbling when he said that he's feeling more optimistic about the economy. Concerns about the possibility of higher inflation and interest rates have rocked markets since the S&P 500 set its latest record high in late January.

More news: This Is How Much An Oscar Award Statue Actually Costs

Worries about potentially higher rates and inflation have reintroduced markets to volatility following their unusually calm run in 2017 and early this year. The loonie is nearly down two cents against the USA dollar since February 16. The euro rose to $1.2275 from $1.2263. Shares of the company, which sells dental and animal health products, dropped $7.47, or 23.7 percent, to $24.11.

Energy shares dropped with oil prices CLc1 and the sector had the biggest daily decline in the S&P 500, but a break below the 50-day moving average on the S&P 500 triggered further selling in afternoon trading. Australia's S&P/ASX 200 sank 1 percent to 5,914.00.

The dollar dipped to 106.24from 106.66 yen late Wednesday. The contract lost 65 cents to settle at $60.99 per barrel on Thursday.

In Europe, France's CAC 40 lost 2.4 per cent, and Germany's DAX fell 2.3 per cent. The FTSE 100 in London dropped 0.8 percent.

Asian markets closed mixed: Tokyo's Nikkei added 1.1 per cent, Hong Kong's Hang Seng down 0.7 per cent, and China's Shanghai Composite down1.1 per cent.

Related News:

  • USA  judge orders ex-drug executive Shkreli to give up $7.36 mln

    USA judge orders ex-drug executive Shkreli to give up $7.36 mln

    Martin Shkreli purchased the exclusive album for $ 2 million in 2015 , but was convinced for multiple counts of fraud in 2017. The defense argued unsuccessfully Shkreli should forfeit nothing.
    Marine Le Pen Faces Three Years in Prison for Anti-ISIS Tweets

    Marine Le Pen Faces Three Years in Prison for Anti-ISIS Tweets

    The founder and former leader of France's far-right Front National has said plans to change its name amount to political suicide. Le Pen was a presidential candidate in France's election a year ago , but lost to Emmanuel Macron.
    Stormi Webster up close! Kylie Jenner Snapchats with her baby girl

    Stormi Webster up close! Kylie Jenner Snapchats with her baby girl

    Of course, Kylie is super excited to show off her baby girl so she quickly shared the video on other social media sites. She also wowed fans by uploading a snap of herself wearing coloured contact lenses which turned her brown eyes blue.
  • Scott McTominay commits worldwide  future to Scotland

    Scott McTominay commits worldwide future to Scotland

    Joey Barton has joked that Scott McTominay chose to represent Scotland over England because he "clearly wants summers off". The 21-year-old was born in Lancaster but has Scottish ancestry through his grandparents.
    David Ogden Stiers, M*A*S*H's 'Major Winchester', Dead at 75

    David Ogden Stiers, M*A*S*H's 'Major Winchester', Dead at 75

    As the snobbish Winchester, Stiers was a flawless foil for Alan Alda's lovable, wise-cracking character Hawkeye Pierce. The CBS sitcom, which was set during the Korean War, is one of the most watched TV shows of all time.
    Dublin airport closed until Saturday

    Dublin airport closed until Saturday

    A spokesman said the extreme conditions over the last three days have seen the airport experience record levels of snow. ScotRail was forced to axe all but four services while Glasgow and Edinburgh airports will close this evening.
  • Predicted Spurs line up to face Huddersfield

    Predicted Spurs line up to face Huddersfield

    Spurs almost made it three with 11 minutes left, but Kane fired wide after Eriksen had picked him out perfectly from a corner. Son scored a terrific goal to give Spurs a well-earned lead, dancing around Lossl to finish a very well-worked team goal.

    Messi hits 600th career goal in Barca clash with Atletico

    Griezmann will enter Sunday's game at Camp Nou boosted by two outstanding performances in the last two league games. Atletico entered the match with the best defense in La Liga with only 11 goals previously conceded.
    Suit: Google, YouTube Worked Against Hiring White, Asian Men

    Suit: Google, YouTube Worked Against Hiring White, Asian Men

    One person, referring to the initiative, reportedly "complained that managers were speaking about blacks like they were objects". Wilberg, who spent nine years at Google before he was sacked last November, worked as a YouTube recruiter for four years.
  • Allison Janney wins best supporting actress Oscar for I, Tonya

    Allison Janney wins best supporting actress Oscar for I, Tonya

    She recently starred on Broadway SIX DEGREES OF SEPARATION for which she received a Tony Award nomination. She sees herself as a woman who tried her hardest to give her daughter a better life than she had.
    Watch Alec Baldwin lampoon Donald Trump on gun control

    Watch Alec Baldwin lampoon Donald Trump on gun control

    President Donald Trump took a break from dealing with the turmoil in his administration to lash out once again at actor Alec Baldwin in an early-morning Twitter rant.
    White House preparing for exit of national security advisor HR McMaster

    White House preparing for exit of national security advisor HR McMaster

    However, sources tell Garrett that the tension regarding McMaster is real, and that an exit strategy may now be in the works. President Trump extolled the virtues of McMaster in a White House statement after nominating him to the senior aide position.


Most liked

Raiders' linebacker Aldon Smith reportedly in rehab after domestic violence incident
In his first two seasons, Smith racked up a combined 33.5 sacks and was named a First-Team All-Pro in 2012, notching 19.5 sacks. He was on the team's reserve/suspended list, logging only nine games for the Raiders and none since 2015.

Amazon Decides To Not Sell Any New Nest Products
If you're wondering what Nest has to do with the Amazon vs Google war , it was of course acquired by the latter some time ago. As reacting to the news, Nest will no longer vend any of its products on Amazon after current inventory runs out.

Oscars Reportedly Planning To Address Trump & Stormy Daniels Affair
Michael Cohen , Trump's longtime lawyer, sent the money through an account he created at First Republic Bank, the report says. Cohen reportedly bungled the payments because he couldn't get a hold of Trump during the hectic final days of the campaign.

Florida: gun control bill advances in Senate
The bill would leave it up to the discretion of individual school districts to decide whether they wanted to arm teachers or not . A final vote on the bill won't be held until Monday. "They are trying to find something that is in the middle, and it's hard ".

Trump ribs staff, press and family at annual Gridiron Dinner
Trump spoke 32 minutes, longer than normal.At one point, a woman heckled Trump to "stop", and had to be shushed by tablemates. Even as an outspoken critic of Trump, I have to admit that he is good at one thing: Delivering jokes.

Egypt's Constitutional Court Upholds Saudi Arabia's Sovereignty Over Red Sea Islands
His visit comes a day after Egypt's top court upheld a deal to transfer two Red Sea islands to Saudi Arabia. On the other hand, 42 percent said they don't know.

Fighting intensifies in Syria enclave as rebels battle to retake territory
No civilians have exited through a humanitarian corridor set up by Russian Federation and the Syrian government almost a week ago. The number of victims is expected to rise, if fighting escalates in densely populated areas.

New Tariffs Could Harm Industry Critical to American Economic Security
Trump supposedly aimed this blow at China , but seems to have hit Canada , and in the process, he's shaking the world . Many US companies also expressed alarm, including beer brewers, which use aluminium for canned beverages.

China's ruling party adopts govt. reshuffle plan
People on social media noted a likeness between Xi and Pooh, while comparing Obama to Tigger, another animal character . Passage of the proposed constitutional amendment by the congress' almost 3,000 handpicked delegates is all but certain.

There are five types of diabetes not two, say scientists
They believe that the study might help tailor and target treatment and lay the foundation for precision medicine in the future. Type 2 diabetes - usually diagnosed in adults - develops when the body can not produce enough insulin the right way.

Armenian parliament chooses new president
With Armenia switching to a parliamentary system of government, he would remain the country's most powerful man in that case. Sarkissian, 64 , taught physics at Yerevan State University and Cambridge University in the 1970s and 1980s.

Police release seven suspects in Slovakian journalist's killing
After 48 hours, detainees were released", police said in a statement. A funeral Mass for Kuciak was held at the church of St.

Zidane still unsure if Kroos and Modric will feature at PSG
Cristiano Ronaldo got the 300 up in style for Real Madrid , netting the second goal in Saturday's La Liga game at home to Getafe . Bale nearly added a fourth in stoppage time when his 20-yard clipped the outside of the far post and was also denied by Martinez.

Ronda Rousey officially becomes a WWE superstar
The plan for Rousey's first match in the WWE is to put her in a two-on-two against Stephanie and Triple H at Wrestlemania . Stephanie McMahon demanded that Kurt Angle apologize for supposedly lying about what she and Triple H said about Rousey.

New England Patriots: Should the Pats go after Lamar Jackson?
Jackson ran the Erhardt-Perkins offense under coach Bobby Petrino at Louisville . "And if a team asked him to change to receiver, he wouldn't do it".