Technology stocks, the biggest winners in the market over the past year, took some of the worst losses.
Alec Young, managing director of global markets research at FTSE Russell, said investors fear that rising interest rates and growing expenses are going to erode the boost company profits have gotten from the GOP tax overhaul. While it's easy to paint a negative picture, Ward said the local market is still up for the year - at around 5 per cent.
"A insane day in the markets yesterday looks set to continue with further selling expected in equities today", Neil Wilson, chief analyst at Markets.com said in an email Thursday morning. That was its worst drop in eight months. The Nasdaq composite fell 152 points, or 2 per cent, to 7,585. Eastern time. It's on track for its fifth straight drop, which hasn't happened since right before the 2016 presidential election. The Nasdaq fell 315 points, or 4.1 percent, to 7,422.
At 2 p.m. ET, the Dow Jones Industrial Average, which hit fresh record highs as recently as last week, was down 424.58 points or 1.6 per cent, to 26,006.07. Stocks had come close to big drops in the last few days, but each time they recovered some of their losses.
A2 Milk Co dropped 6.7 per cent to $9.53, Pushpay Holdings sank 6.2 per cent to $3.50 and Synlait Milk fell 5.4 per cent to $9.15. Technology stocks fell especially sharply.
Shares in Facebook, Amazon, Apple, Netflix and Google's parent company Alphabet - the so-called "FAANG" stocks that have driven USA markets to all-time highs recently - all fell in NY trading.
Losses were fairly broad-based, with tech companies Amazon and Microsoft plummeting more than three percent, along with Boeing, Nike and Caterpillar. Berkshire Hathaway dipped 4.1 per cent to $214.64 and reinsurer Everest Re slid 4.6 per cent to $218.97.
Luxury retailers tumbled after LVMH, the parent of Louis Vuitton, said its sales growth in China slowed.
William and Kate to attend mental health summit
The Duke and Duchess had a chance to speak to young delegates at the summit about the challenges and issues they face. William and Kate have always been involved in mental health initiatives through their Heads Together campaign.
The Aussie is buying 70.73 USA cents, up from 70.13 United States cents at Wednesday's close.
Higher interest rates "eroded the value of stocks, prompting institutional investors to place a massive amount of sell orders", an official at a bank-affiliated securities house said.
Stocks are extending their slump on Wall Street, led by drops in big technology companies, as rising bond yields draw investors out of stocks.
The yield on the 10-year Treasury is 3.20%, the highest level in seven years.
U.S. Treasury yields held near multi-year highs after producer prices climbed 0.2 percent in September, feeding into the pressure on the Federal Reserve to continue to raise interest rates even as the global economy struggles with headwinds from President Trump's trade war with China.
"It's a risk-off environment as investors are focusing on spiking yields and taking profits off the table as they are concerned about whether the bull market is actually coming to an end", said Ryan Nauman, market strategist at Informa Financial Intelligence.
USA consumer price inflation is now above 2 percent annually and the unemployment rate is the lowest in about 40 years. Wall Street extended its losses Wednesday afternoon as markets continued to skid, with the Nasdaq leading the losses.
The theory explains how the sun's rays can be so strong that turns the water directly into vapor, leaving behind sharp formations. Scientists from the University of Cardiff say shards of ice up to 15m (50ft) high could be dotted all over the moon's surface.
You see, Google wants this to be a product you place on your nightstand - or some place like that - and still feed comfortable. Google is putting a large emphasis on people being able to use the Google Home app as a one-stop-shop for their entire home.
The UAE, meanwhile, is now the strongest in the Middle East, jumping from 62nd place in 2006 to 21st in the 2018 index. "The total score for each passport is equal to the number of destinations for which no visa is required".
The weather agency, AEMET, said more heavy rainfall is expected Wednesday in eastern and southern parts of the Iberian peninsula. Lawmakers held a minute's silence before the weekly prime minister's question time in parliament on Wednesday morning.
The Slate has a custom "molecular display ", which is an LCD with a resolution of 3000 x 2000 and 400 nits of brightness. Broad carrier availability: The Samsung Galaxy Note 9 is available on all USA wireless carriers and various retailers.
The report said that aggregate growth in the emerging market and developing economy group stabilised in the first half of 2018. Further threats to global economy include "unsettled" politics and the escalating trade tensions between the USA and China.
Lampert's hedge fund, ESL Investments, offered to buy Kenmore and certain other assets earlier this year. Sears and Kmart had 89,000 employees as of February 3 of this year, according to a company filing.
The Pixel 3 and Pixel 3 XL will be the first Pixel phones to launch in France at the same time as the US, FrAndroid explains. Another highlight of the tablet is the Split screen that is integrated for smooth multitasking and Google Assistant .
Following the wedding at St George's Chapel in Windsor, Eugenie's title will become "HRH Princes Eugenie, Mrs Jack Brooksbank ". The Earl and Countess of Wessex's children, Lady Louise Windsor and Viscount Severn will be special attendants on the day.
At 1.5°C warming, ocean acidification will be reduced (compared to 2°C warming), with better prospects for marine ecosystems. The report is seen as the main scientific guide for government policymakers on how to implement the 2015 Paris Agreement .
Kavanaugh's wife and two daughters were in seats reserved for justices' guests, along with retired Justice Anthony Kennedy. But Ford gave an emotional and what people on both sides called credible testimony before the Senate Judiciary Committee.
U.S. Stocks Fall Sharply, Tech Sector Leads Declines
The move particularly affects high-growth tech companies which have been a source of huge returns in recent months. She said they also fear that company profit margins will be squeezed by rising costs, including the price of oil.
Jimmy Butler has heated practice with Timberwolves
A couple of Butler's teammates were particularly vague when asked about Butler's level of participation in practice on Wednesday. However, Woj reports that Butler was verbally challenging teammates, coaches and the front office.