Asia shares sink after Wall Street sell-off

At 1:16 pm ET the Dow Jones was down 565.16 points at 25,261.27 the S&P 500 was down 62.55 points at 2,727.82 and the Nasdaq was down 196.65 points at 7,244.86

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

The S&P 500 index lost 8 points, or 0.3 per cent, to 2,782. But if not remember I am a Tariff Man, Trump wrote. (NASDAQ: AMZN) fell by 5.8%, dragging down the markets.

The S&P 500 is up 26.45 points, or 1 per cent. -China trade cease-fire. That revived fears their tariff battle could chill global economic growth.

Stocks are opening lower on Wall Street, led by losses in technology companies and banks.

Markets were also getting spooked by a flattening yield curve in U.S. government debt, seen by some as raising the possibility that the world's biggest economy may be heading towards a recession.

American markets fell sharply last night amid fresh concerns about the strength of the USA economy and the future of President Trump's trade war with China. "Unless extended, they will end 90 days from the date of our wonderful and very warm dinner with President Xi in Argentina". While the Chinese Foreign Ministry acknowledged that further talks on tariffs would proceed, Beijing has yet to corroborate details on any major parts of the trade agreement, with Chinese state media avoiding any reference to a 90-day condition, nor did it mention an agreement to unilaterally reduce auto tariffs. "Financial markets are increasingly showing signs of fear of a recession". US futures also augured a downbeat start for Wall Street after markets were closed Wednesday to mourn the death of former President George H.W. Bush. The yield on the benchmark 10-year Treasury note fell to its lowest level in three months, signaling that the bond market is anxious about long-term economic growth. Hong Kong's Hang Seng index dropped 1.6 percent Wednesday, while Japan's benchmark Nikkei index slipped 0.5 percent.

World markets down after arrest of Huawei executive
In exchange, ZTE agreed to pay a hefty $1 billion fine and put an additional $400 million in escrow in case of future violations. It's shooting for the lead in fifth-generation wireless networks and preparing to take on some of America's biggest chipmakers.

"Maybe we're not going to get as dovish a Fed as some think", said Joseph LaVorgna, chief economist, Americas at Natixis in NY. During a briefing with reporters, John Williams said given his outlook for strong economic growth, he expects "further gradual increases in interest rates will best sponsor a sustained economic expansion".

Bond prices rose sharply. The slide in bond yields, which affect interest rates on mortgages and other consumer loans, weighed on bank stocks.

The KBW Bank index slid 4.90% with Bank of America Corp and Citigroup Inc dropping more than 5 % each.

Oil prices rose. OPEC members are expected to agree at a Thursday meeting to cut output in 2019. Brent crude, used to price worldwide oils, lost 63 cents to $61.45 per barrel in London.

CURRENCY: The dollar slipped to 112.80 yen from 113.20 yen. The euro strengthened to $1.1349 from $1.1342. A report issued Tuesday from a Swiss freight company noted that global trade grew just 0.3 percent last month, compared to 3.1 percent for November 2017.

Latest News