This article is from the source 'nytimes' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.nytimes.com/2018/12/27/business/global-stock-markets.html
The article has changed 9 times. There is an RSS feed of changes available.
| Version 2 | Version 3 |
|---|---|
| Wall St. Stocks Drop, Riding Roller Coaster Back Down After Best Day Since ’09 | Wall St. Stocks Drop, Riding Roller Coaster Back Down After Best Day Since ’09 |
| (35 minutes later) | |
| Wall Street’s roller-coaster ride continued on Thursday, with stocks tumbling as euphoria over a surge in prices a day earlier began to fade. | Wall Street’s roller-coaster ride continued on Thursday, with stocks tumbling as euphoria over a surge in prices a day earlier began to fade. |
| Investors have struggled to get their bearings this month as the S&P 500 hurtled toward bear-market territory. They are trying to assess the prospects for economic growth and corporate profits as interest rates rise and a trade war with China continues, while also factoring in internal White House turmoil and President Trump’s antipathy toward Jerome H. Powell, the Federal Reserve chairman. | |
| [Read more about investors’ biggest concerns, and about how technology stocks fell into a bear market last week.] | [Read more about investors’ biggest concerns, and about how technology stocks fell into a bear market last week.] |
| Concerns about the White House’s response to what has been a rough December for Wall Street grew last week as Mr. Trump used Twitter to vent his frustration over the Fed’s decision to keep raising interest rates and sought guidance from aides about whether he could fire Mr. Powell. | Concerns about the White House’s response to what has been a rough December for Wall Street grew last week as Mr. Trump used Twitter to vent his frustration over the Fed’s decision to keep raising interest rates and sought guidance from aides about whether he could fire Mr. Powell. |
| The partial shutdown of the federal government could also begin to wear on investors as they are forced to operate without official data that could help answer lingering questions about the health of the American economy. On Thursday, for instance, a Census Bureau report on new home sales was delayed because of the shutdown. | The partial shutdown of the federal government could also begin to wear on investors as they are forced to operate without official data that could help answer lingering questions about the health of the American economy. On Thursday, for instance, a Census Bureau report on new home sales was delayed because of the shutdown. |
| Investors got some data to digest on Thursday, and it was not encouraging. A report on consumer confidence by the Conference Board, a business group, showed Americans growing more pessimistic about economic conditions. In China, officials said industrial profits had declined in November for the first time in three years, a reminder that the growth of the world’s second-largest economy continues to slow. | Investors got some data to digest on Thursday, and it was not encouraging. A report on consumer confidence by the Conference Board, a business group, showed Americans growing more pessimistic about economic conditions. In China, officials said industrial profits had declined in November for the first time in three years, a reminder that the growth of the world’s second-largest economy continues to slow. |
| With financial markets seemingly lurching this way and that depending on each day’s headlines, trading has become particularly volatile lately. The sharp decline on Thursday came after the S&P 500 had its best day since 2009. Those gains followed reports of strong holiday-shopping sales, a jump in crude oil prices and reassuring words from the White House about the Fed. | With financial markets seemingly lurching this way and that depending on each day’s headlines, trading has become particularly volatile lately. The sharp decline on Thursday came after the S&P 500 had its best day since 2009. Those gains followed reports of strong holiday-shopping sales, a jump in crude oil prices and reassuring words from the White House about the Fed. |
| [Read more about the rally on Wednesday, which yielded a record gain for the Dow Jones industrial average.] | [Read more about the rally on Wednesday, which yielded a record gain for the Dow Jones industrial average.] |
| ■ Oil prices on Thursday gave back some of their gains from the day before, and shares of energy producers were the worst performers in the S&P 500. | ■ Oil prices on Thursday gave back some of their gains from the day before, and shares of energy producers were the worst performers in the S&P 500. |
| ■ The drop on Wall Street came after market declines across Europe. The Euro Stoxx 50, a measure of blue-chip European companies, was down 1.6 percent by the afternoon. Britain’s FTSE 100 was off 1.5 percent, France’s CAC 40 had lost 1.3 percent and the Dax in Germany was 2.6 percent lower. | ■ The drop on Wall Street came after market declines across Europe. The Euro Stoxx 50, a measure of blue-chip European companies, was down 1.6 percent by the afternoon. Britain’s FTSE 100 was off 1.5 percent, France’s CAC 40 had lost 1.3 percent and the Dax in Germany was 2.6 percent lower. |
| [It’s not just the stock market that’s flashing warnings. The bond market is too.] | [It’s not just the stock market that’s flashing warnings. The bond market is too.] |
| ■ Asian markets were mixed on the day, with Japan’s Nikkei 225 ending trading around 3.9 percent higher after dipping into bear-market territory — at least 20 percent off its recent peak — earlier in the week. China’s Shanghai Composite Index fell 0.6 percent, Hong Kong’s Hang Seng Index dropped 0.7 percent, South Korea’s Kospi index was flat, and Taiwan’s Taiex rose 1.7 percent. | ■ Asian markets were mixed on the day, with Japan’s Nikkei 225 ending trading around 3.9 percent higher after dipping into bear-market territory — at least 20 percent off its recent peak — earlier in the week. China’s Shanghai Composite Index fell 0.6 percent, Hong Kong’s Hang Seng Index dropped 0.7 percent, South Korea’s Kospi index was flat, and Taiwan’s Taiex rose 1.7 percent. |