How major U.S. stock indexes fared Monday

Tech stocks are getting slammed, Dow drops more than 400 points

A broad sell-off in technology companies pulled US stocks sharply lower Monday, knocking more than 600 points off the Dow Jones Industrial Average. Apple shares tumbled on reports that a parts supplier to the tech giant has seen a drop in orders.

Banks and consumer-focused companies and media and communications stocks also took heavy losses Monday. Unless the economy experiences significant deterioration in the following weeks and months, there's no valid justification for the Fed to end orThe recovery in USA stocks from October's slump evaporated on Monday with the Dow Jones Industrial Average falling more than 600 points, while the Nasdaq Composite and S&P 500 declined 2.78% and 1.97% respectively. The Dow Jones Industrial Average slid as Exxon Mobil and Chevron dropped. The S&P 500 was down 38.05 points, or 1.37 percent, to 2,742.96. The Russell 2000 index of smaller companies gave up 15 points, or 1 per cent, to 1,534.

The S&P 500 ended Tuesday well off the day's highs as West Texas crude hit a nine-month low, falling the most since 2011, after US President Donald Trump criticised Saudi Arabia's plan to cut output. The Nasdaq had gained as much as 1.6 percent. Brent crude, used to price worldwide oils, picked up 1 percent to $70.91 per barrel in London.

Stocks attempted to bounce earlier in the session amid reports of renewed trade talks between the USA and China.

The stock market was coming off a two-week winning streak for the benchmark S&P 500.

Concern over demand for Apple's iPhone line caused the company's stock to fall 5 percent Monday. That fueled questions about the outlook for tech industries and USA economic growth. Xi and Trump are due to meet during this month's Group of 20 gathering of major economies in Argentina. Energy Minister Khalid al-Falih said on Sunday that kingdom would cut production by more than 500,000 barrels per day in December. Germany's DAX lost 1.8 percent and France's CAC 40 fell 0.9 percent.

More news: English Premier League report Crystal Palace v Tottenham Hotspur 10 November 2018

"While the oil price has opened on a solid footing today, the knee-jerk reaction to the meeting is likely to subside in the short term until investors take solace in visible signs of a reduction in supply and OPEC lives up to the rhetoric of further supply cuts", said Aneeka Gupta, associate director at exchange-traded fund provider WisdomTree.

Brent crude futures were up 70 cents at $70.88 a barrel, following four sessions of losses.

Visit for more information on this news.

The dollar strengthened to 113.86 yen from 113.80 yen on Friday.

In Asia, stocks were generally mixed with the Nikkei 225 down 459 at 21,810, while the Shanghai Composite Index added around 24 points at 2,654.

Related News:

Most liked

Israel's hardline education minister gives PM ultimatum
Over 460 rockets and mortar shells were fired at southern Israel in 25 hours on Monday and Tuesday, according to the Israeli army. The flare-up between Hamas and Israel began on Sunday night when Israeli special forces began a land operation into Gaza.

Rex Ryan on Jets head coach Todd Bowles: 'He's gone'
The unit sacked Dolphins quarterback Brock Osweiler four times last week and kept the team in the game until the very end. McCown is stepping in for Darnold who suffered a significant foot sprain at the end of the Dolphins game in Week 9.

Migrants climb over fence as caravan arrives in Tijuana
He said the state government, the Roman Catholic Church and city officials in Escuinapa, Sinaloa, were helping the migrants. San Ysidro is the border's busiest crossing, with about 110,000 people entering the USA every day.

Palm Beach machines overheat, miss recount votes
Nelson on Tuesday also renewed Democratic calls for Scott to recuse himself from any official duties related to the recount . Although the judge ordered Snipes to give the information to the Scott campaign, she did not do so by the court's deadline.

Chelsea target Ousmane Dembele expected to stay at Barcelona
Two substitutes combined for a second, Munir El Haddadi laying on Vidal but no sooner had the comeback begun again, it was halted. - Barcelona have lost a LaLiga home game for the first time since September 2016 against Alaves (1-2), 792 days ago.

CNN sues over barring of reporter, White House vows vigorous defense
Commenting on the incident, Acosta claimed that he nearly bonded with the pro-Trump demonstrators at the end of the broadcast. Acosta banishment from the White House marked an escalation in tensions between the president and his chief media antagonist.

DHS Secretary Nielsen expected to leave
First Lady Melania Trump wants one of Defense Secretary James Mattis' rivals in the National Security Council gone. A spokesman for the Department of Homeland Security declined to comment on Ms Nielsen's potential departure.

Stephen Colbert and Hugh Jackman remember Stan Lee on "The Late Show"
For decades he provided both young and old with adventure, escape, comfort, confidence, inspiration, strength, friendship and joy. Tributes have come thick and fast for the Marvel writer, who died on Monday, including from the Rock and Robert Downey Jnr.

Duke’s freshman trio too much for Army to handle
Upon reviewing the 118-84 drubbing of No. 2 Kentucky from Tuesday night, the Blue Devils saw areas where they can be better. Duke's next test will come again in Cameron Indoor Stadium when it welcomes Eastern Michigan at 7 p.m.

Apple Canada announces iPhone X display replacement program
The company said it only affects the original iPhone X , which has been superseded by the iPhone XS and XR released this autumn. These changes are expected to help Apple and Amazon have more control over the pricing and inventory of Apple products.

ATP Finals 2018 prize money: Federer, Djokovic lead field
Thiem was outplayed by South African debutant Anderson in the first set of the opening match in Lleyton Hewitt group . The ATP Finals tournament is generally regarded as the highest tier of tennis outside the Grand Slam circuit.

Clashes reach residential streets in Yemen's Hodeida
A commotion is heard off screen followed by Gaber moving his hands towards his face to deflect the incoming shoe. Yemeni pro-government on the move outside Hodeida , where fighting rages street-to-street.

Florida headed for recounts over 'fraud'
Unofficial results show that DeSantis led Gillum by 0.41 percentage points in the election for governor. Nelson's lawyer called that race a "jump ball" - though Scott's campaign urged Nelson to concede.

Games Against Manchester City Are Games I Love - Manchester United Star
They are also on course to eclipse by eight goals the extraordinary 106 they scored in winning the Premier League. They're the games you want to be involved in, like everyone else. "But what is behind, I can not say".

Trump cancels WW1 memorial at cemetery in France due to rain
Trump's absence earned him harsh criticism from a range of current and former USA and European officials over social media. He says the states in the USA don't ask France or Germany or other countries to finance their armies.