Asia shares sink after Wall Street sell-off

Trade-sensitive shares were undermined by a failure by Donald Trump’s aides to detail the deal that he said he had struck with China

US markets sink on worries over slowing growth, trade truce outcome

PHOTO: Trader Michael Milano works on the floor of the New York Stock Exchange, Nov. 28, 2018.

Stocks are opening lower on Wall Street, led by losses in technology companies and banks. The Dow plunged 799.36 points, or 3.1 percent, to 25,027.07, more than erasing its 488-point gain over the previous two trading days.

Stocks took a tumble Tuesday as the Dow Jones Industrial Average fell almost 800 points amid renewed fears regarding the U.S. The S&P 500 decreased 90.31 points, or 3.24 per cent, to 2,700.06, Xinhua reported.

The drop came amid a signal from government bond rates seen as an early-warning indicator of a US recession, as well as the confusing status of the touted US-China agreement to halt their trade war. As we get headwinds from trade worries fading, you get an inverted yield curve and another brick added to the market's wall of worry, ' said Hogan.

The U.S. three-year treasury note yield stood at 2.805 percent, higher than the five-year note on Tuesday.

Apple shares fell 4.40 percent in intraday trading after HSBC downgraded the stock, citing too much dependence on a single product and slowing emerging markets economies.

Bond prices soared, sending yields lower, as traders shoved money into lower-risk investments.

"People think there is not "substance" behind Trumps tweets about tariffs so the markets are giving back the gains from before the G20 meeting", Michael Matousek, head trader at U.S. Global Investors, told ABC News.

Louis Cardinals land superstar slugger they needed in trade for Paul Goldschmidt
Hazen said it's premature to say Arizona is in a full-scale rebuilding mode, noting the team still has plenty of talented players. A six-time All-Star and three-time Gold Glove victor at 31, Goldschmidt was among the top players available in the trade market.


Markets reacted enthusiastically to the announcement on Monday, which was accompanied by hopeful commentary in Chinese state media. The Nasdaq fell 197 points, or 2.7 percent, to 7,244. Advanced Micro Devices dropped 10.9 percent to $21.12, while Micron Technology lost 7.9 percent to $36.88. Benchmark U.S. crude gained 0.6 percent to settle at $53.25 per barrel in NY. Japan's Nikkei 225 index gave up 2.4 per cent and the Kospi in South Korea lost 0.8 per cent. Hong Kong's Hang Seng added 0.3 per cent.

Encana Corp. lost 3.6 per cent, while Crescent Point Energy Corp. was down 2.3 per cent. Brent crude, the global standard, added 0.9 percent to $62.22 per barrel in London.

CURRENCY: The dollar gained to 112.95 yen from Wednesday's 112.78 yen.

The Dow is down 511.39 points, or 2 per cent. The euro declined to $1.1330 from $1.1343.

AutoZone climbed 5.6 percent to $870.65 after the auto parts retailer delivered third-quarter earnings that exceeded analysts' forecasts.

The S&P 500 index lost 23 points, or 0.9 percent, to 2,766.

Gold gained 0.6 percent to $1,246.60 an ounce.

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