The Dow Jones industrial average lost 633 points, or 2.4 percent, to 25,563. On average, profit growth expectations fall by four percentage points from the start of the quarter to the start of earnings season, said David Aurelio, senior research analyst at Thomson Reuters.
Wall Street also looked to the release of key corporate earnings. The index closed at an all-time high of 26,616.71 January 26. Its that combo of factors thats starting to mount, Jim Paulsen, chief investment strategist at Leuthold Weeden, said by phone.
Some were ascribing the market decline to nervousness over special counsel Robert Mueller's probe into whether there was collusion between Mr Donald Trump's presidential campaign and Russian Federation, and reports about a sensitive memo.
The U.S. added a stronger-than-forecast 200,000 jobs in January - and the report appears to have cemented expectations for another rate hike sooner rather than later, with 10-year Treasury yields surging to a four-year high.
"What is good for the average American worker ends up being negative for stocks because it increases the odds of further rate hikes", Michael Antonelli, managing director of institutional sales trading at Robert W. Baird in Milwaukee.
Janet Yellen, the Federal Reserve's departing chair who had her last working day Friday, was viewed by some as being more concerned about measures of weakness in the job market than by the risk of rising inflation, and therefore more willing to keep rates low. In fact manysay a pull back was overdue.
Apple fell 4.3 per cent after reporting a record $20 billion profit in the fourth quarter on higher revenues.
"For months I've been saying the market is underestimating what the Fed will do in raising interest rates", Jurrien Timmer, director of global macroeconomics for Fidelity Investments, told NBC News.
Investors headed for the exits amid growing fears over a bond market rout, triggered by early signs of inflation in the USA as economic growth accelerates and wages appear to finally be rising after years of stagnation.
Any increase in rates puts upward pressure on business and consumer borrowing, where rates could trend higher for home mortgages, auto loans and other big-ticket purchases.
But the excluding tax reform bonus, earnings translated to 88 cents a share, below the $1.04 expected by financial analysts.
For instance, the benchmark Standard & Poor's 500 index jumped an eye-popping 7.5 percent in January alone. The index's five-day rout reached 3.9%-marking its first pullback of at least that much in a record 404 days.
The last time it dropped by over 600 points was after the Brexit vote in June 2016.
Looking ahead, observers advise watching the Asian markets Monday for its likely negative reaction to NY trading today.
S&P 500 e-mini stock futures EScv1 extended losses after 4 p.m. ET close in the cash market.
Flu season came early this year, though, and it has shown high peaks of activity, according to the North Central Health District. Infection can continue up to 24 hours after the fever breaks without the help of a fever-reducing medication.
Harris knocked down a quick three-pointer, and pull-up jump shot to score the Nuggets first five points of the evening. Despite their huge offensive productivity neither George (43 points) or Murray (33 points) got to the charity stripe.
Had Paddock fired these rounds during the nighttime massacre at the concert, they would have been visible. Haig did not have a license to manufacture or sell armor-piercing ammunition, according to authorities.
The government will provide up to Rs 5 lakh per family per year for secondary and tertiary care hospitalisation, Jaitley said. This scheme would require an estimated funding of Rs 11,000 crore in central and state government funding each year.
The government took three private television channels off the air on Tuesday as they began to cover of the opposition ceremony. Clashes between Odinga supporters and security forces claimed around 100 lives during the election season.
According to local daily Corriere Adriatico one of injured is in serious but conscious and rest, out of danger. Police said a suspect was held two hours after the shooting began at about 11 a.m.local time .
Capitol following a closed-door briefing with members of the House of Representatives on May 19, 2017. So the only way to get rid of Mueller is to get rid of Rosenstein, and Trump needs a reason to do so.
Australia , on the other hand, would be desperate for revenge after their big loss to the Indians in tournament opener. Dravid will aswell be acquainted of the actuality that Australia is a able ancillary and they can't be taken lightly.
It was also reported that the party and CM Naidu carried out an assessment of the pros and cons of a split with the BJP. After the parliamentary board meeting held on Sunday, TDP said it is not snapping the alliance with the BJP for now.
Who and why has however not been revealed, although the club confirm it was not related to the current Tony Henry investigation. West Ham moved quickly to suspend Henry for his comments and they have now terminated his contract.
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