Wall Street stocks suffered a <a href="http://www.wionews.com/business-economy/wall-street-tumbles-as-apple-internet-stocks-swoon-178366">second consecutive battering</a> on Tuesday, with weakness in the technology sector spreading to other areas, especially energy and retail.

The Dow Jones Industrial Average plunged 2.2 per cent, or more than 550 points, to finish at 24,465.64, wiping out its gains for the year and then some.

The broad-based S&amp;P 500 shed 1.8 per cent to 2,641.89, while the tech-rich Nasdaq Composite Index fell 1.7 per cent to 6,908.82.&nbsp;

After Tuesday, the Nasdaq was the only one of the three indices still clinging to a modest gain for the year, but stood at its lowest levels in more than seven months.&nbsp;

"Today was again a big sell-off," said JJ Kinahan, chief market strategist at TD Ameritrade. "Investors are repricing stocks."

Analysts have blamed the weakness on worries about slowing global growth exacerbated by a series of Federal Reserve interest rate hikes and the burgeoning US-China trade dispute.&nbsp;

Some market watchers have said the fall has been exacerbated by light trading volumes this week ahead of Thursday's Thanksgiving holidays when markets will be closed.

Most large technology companies dropped again, including Apple and Microsoft, which shed 4.8 per cent and 2.8 per cent respectively. Amazon and Netflix fell more modestly, while Google parent Alphabet and Facebook advanced modestly in apparent bargain hunting.

Petroleum-linked shares were another weak segment, with Dow members ExxonMobil and Chevron plunging nearly three per cent and Apache shedding 5.1 per cent.

The losses came after benchmark US oil prices slid 6.6 per cent to $53.43 per barrel, the lowest level in more than a year, amid worries over excess supply.

Leading retailers mostly fell following mixed earnings reports, with Target dropping 10.5 per cent, Lowe's 5.7 per cent and Kohl's 9.2 per cent. An exception was Best Buy, which advanced 2.2 per cent.

Wall Street stocks suffered a second consecutive battering on Tuesday, with weakness in the technology sector spreading to other areas, especially energy and retail.

Wall Street stocks suffered a second consecutive battering on Tuesday, with weakness in the technology sector spreading to other areas, especially energy and retail. The Dow Jones Industrial Average plunged 2.2 per cent, or more than 550 points, to finish at 24,465.64, wiping out its gains for the year and then some. The broad-based S&P 500 shed 1.8 per cent to 2,641.89, while the tech-rich Nasdaq Composite Index fell 1.7 per cent to 6,908.82. After Tuesday, the Nasdaq was the only one of the three indices still clinging to a modest gain for the year, but stood at its lowest levels in more than seven months. "Today was again a big sell-off," said JJ Kinahan, chief market strategist at TD Ameritrade. "Investors are repricing stocks." Analysts have blamed the weakness on worries about slowing global growth exacerbated by a series of Federal Reserve interest rate hikes and the burgeoning US-China trade dispute. Some market watchers have said the fall has been exacerbated by light trading volumes this week ahead of Thursday's Thanksgiving holidays when markets will be closed. Most large technology companies dropped again, including Apple and Microsoft, which shed 4.8 per cent and 2.8 per cent respectively. Amazon and Netflix fell more modestly, while Google parent Alphabet and Facebook advanced modestly in apparent bargain hunting. Petroleum-linked shares were another weak segment, with Dow members ExxonMobil and Chevron plunging nearly three per cent and Apache shedding 5.1 per cent. The losses came after benchmark US oil prices slid 6.6 per cent to $53.43 per barrel, the lowest level in more than a year, amid worries over excess supply. Leading retailers mostly fell following mixed earnings reports, with Target dropping 10.5 per cent, Lowe's 5.7 per cent and Kohl's 9.2 per cent. An exception was Best Buy, which advanced 2.2 per cent.

Wall Street stocks slum as tech, energy, retail sectors weaken

US stocks dropped and the Nasdaq fell 3 per cent on Monday as investors dumped Apple, internet and other technology shares, further shaking confidence in a group of stocks that has propelled the long bull market.

Conflicting signals over the state of play between the United States and China on their trade dispute added to caution in the market.

Shares of Apple Inc fell after the Wall Street Journal reported the company had cut production orders in recent weeks for all three iPhone models launched in September.

The iPhone maker's stock dropped 4.0 per cent to $185.86 and is now down 19.9 per cent from its October 3 record closing high in the wake of a disappointing holiday quarter sales forecast and weak outlooks from several suppliers. The S&amp;P 500 technology index, down 3.8 per cent, led sector losses.

Other market leaders - including the 'FANG' stocks - also fell sharply. Shares of Facebook&nbsp;were down 5.7 per cent, Amazon.com was down 5.1 per cent, Netflix fell 5.5 per cent and Alphabet fell 3.8 per cent.

Since the FANG outperformance run peaked on August 30, the group has underperformed the S&amp;P 500 by 16.25 per cent. That is their worst underperformance since the first half of 2014 when they underperformed by around 20 per cent.

"You're seeing that rotation away from tech. Certainly, the indexes are much more growth-oriented because of the sheer size of those companies now, and they dominate the indexes," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. "You're going to have more underperformance of the growth names."

The S&amp;P utilities and real estate sectors were the only two that ended in positive territory.

The Dow Jones Industrial Average fell 395.78 points, or 1.56 per cent, to 25,017.44, the S&amp;P 500 lost 45.54 points, or 1.66 per cent, to 2,690.73 and the Nasdaq Composite dropped 219.40 points, or 3.03 per cent, to 7,028.48.

Comments by New York Federal Reserve President John Williams on Monday that the US central bank is pushing ahead with gradual rate-hike plans next month as it marches towards a more normal policy stance may have added pressure to stocks.

Some investors questioned whether the Fed will be able to continue raising interest rates, possibly harming growth.

Richard Clarida, the Fed's newly appointed vice chair, said on Friday that US rates are nearing Fed estimates of a neutral rate, which "makes sense."

Over the weekend, Asia-Pacific leaders meeting in Papua New Guinea failed to agree on a communique for the first time, with US-China trade worries on the forefront.

US Vice President Mike Pence said in a blunt speech on Saturday the United States will not back down from its trade dispute with China unless Beijing bows to US demands, dampening Friday's trade optimism that was fuelled by comments from President Donald Trump.

Shares of Apple suppliers were also hit, including Lumentum Holdings Inc, Universal Display Corp, Cirrus Logic Inc and Skyworks Solutions Inc.

The Philadelphia SE Semiconductor index, which includes some Apple suppliers, dropped 3.9 per cent, extending losses from the previous session.

"Lots of times we get a rally started the Friday after Thanksgiving, which is this week. If some of these dominos fall on the positive side, we could see this trend reverse," said Bucky Hellwig, senior vice president at BB&amp;T Wealth Management in Birmingham, Alabama.

"But right now there are several things working against the market - the Fed, the uncertainty with regard to the trade deal with China and some sector disappointments, particularly in technology."

Trading volumes were thin at the start of the holiday-shortened week ahead of Thanksgiving on Thursday and a shorter session on Friday, which brings slight volatility to markets, traders said.

About 7.7 billion shares changed hands on US exchanges. That compares with the 8.7 billion daily average for the past 20 trading days.

Declining issues outnumbered advancing ones on the NYSE by a 2.72-to-1 ratio; on Nasdaq, a 2.94-to-1 ratio favoured decliners.

The S&amp;P 500 posted 28 new 52-week highs and 18 new lows; the Nasdaq Composite recorded 17 new highs and 159 new lows.

US stocks dropped and the Nasdaq fell 3 per cent on Monday as investors dumped Apple, internet and other technology shares, further shaking confidence in a group of stocks that has propelled the long bull market.

US stocks dropped and the Nasdaq fell 3 per cent on Monday as investors dumped Apple, internet and other technology shares, further shaking confidence in a group of stocks that has propelled the long bull market. Conflicting signals over the state of play between the United States and China on their trade dispute added to caution in the market. Shares of Apple Inc fell after the Wall Street Journal reported the company had cut production orders in recent weeks for all three iPhone models launched in September. The iPhone maker's stock dropped 4.0 per cent to $185.86 and is now down 19.9 per cent from its October 3 record closing high in the wake of a disappointing holiday quarter sales forecast and weak outlooks from several suppliers. The S&P 500 technology index, down 3.8 per cent, led sector losses. Other market leaders - including the 'FANG' stocks - also fell sharply. Shares of Facebook were down 5.7 per cent, Amazon.com was down 5.1 per cent, Netflix fell 5.5 per cent and Alphabet fell 3.8 per cent. Since the FANG outperformance run peaked on August 30, the group has underperformed the S&P 500 by 16.25 per cent. That is their worst underperformance since the first half of 2014 when they underperformed by around 20 per cent. "You're seeing that rotation away from tech. Certainly, the indexes are much more growth-oriented because of the sheer size of those companies now, and they dominate the indexes," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. "You're going to have more underperformance of the growth names." The S&P utilities and real estate sectors were the only two that ended in positive territory. The Dow Jones Industrial Average fell 395.78 points, or 1.56 per cent, to 25,017.44, the S&P 500 lost 45.54 points, or 1.66 per cent, to 2,690.73 and the Nasdaq Composite dropped 219.40 points, or 3.03 per cent, to 7,028.48. Comments by New York Federal Reserve President John Williams on Monday that the US central bank is pushing ahead with gradual rate-hike plans next month as it marches towards a more normal policy stance may have added pressure to stocks. Some investors questioned whether the Fed will be able to continue raising interest rates, possibly harming growth. Richard Clarida, the Fed's newly appointed vice chair, said on Friday that US rates are nearing Fed estimates of a neutral rate, which "makes sense." Over the weekend, Asia-Pacific leaders meeting in Papua New Guinea failed to agree on a communique for the first time, with US-China trade worries on the forefront. US Vice President Mike Pence said in a blunt speech on Saturday the United States will not back down from its trade dispute with China unless Beijing bows to US demands, dampening Friday's trade optimism that was fuelled by comments from President Donald Trump. Shares of Apple suppliers were also hit, including Lumentum Holdings Inc, Universal Display Corp, Cirrus Logic Inc and Skyworks Solutions Inc. The Philadelphia SE Semiconductor index, which includes some Apple suppliers, dropped 3.9 per cent, extending losses from the previous session. "Lots of times we get a rally started the Friday after Thanksgiving, which is this week. If some of these dominos fall on the positive side, we could see this trend reverse," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama. "But right now there are several things working against the market - the Fed, the uncertainty with regard to the trade deal with China and some sector disappointments, particularly in technology." Trading volumes were thin at the start of the holiday-shortened week ahead of Thanksgiving on Thursday and a shorter session on Friday, which brings slight volatility to markets, traders said. About 7.7 billion shares changed hands on US exchanges. That compares with the 8.7 billion daily average for the past 20 trading days. Declining issues outnumbered advancing ones on the NYSE by a 2.72-to-1 ratio; on Nasdaq, a 2.94-to-1 ratio favoured decliners. The S&P 500 posted 28 new 52-week highs and 18 new lows; the Nasdaq Composite recorded 17 new highs and 159 new lows.

Wall Street tumbles as Apple, internet stocks swoon

Wall Street crumbled on Monday as fears for demand in the tech sector turned into a broader retreat from stocks while oil prices slid to an 11th straight day of losses despite a Saudi offer to limit output.

European equities also closed lower with Frankfurt and Paris weighed down in part by lingering concerns over Italy's high debt and Tuesday's EU-deadline for Rome to revise its 2019 budget.

Trading got off to a bad start in New York, with Apple shares declining after a key parts supplier said a client had cut orders significantly, stoking fears of waning demand for iPhones.

"The ecosystem of the supply chain around Apple is starting to feel the slide of demand," Matt Miskin of John Hancock told AFP, noting that he still expected robust holiday season performance in the tech sector.

"With a weaker global growth, tech companies are starting to get repriced lower."

But a general rout ensued for stocks. Investment bank Goldman Sachs also fell 7.5 per cent, weighing on the financial sector, while embattled engineering giant General Electric had its lowest close in nearly a decade.

The Dow and S&amp;P 500 both lost two per cent or more while the tech-heavy Nasdaq dropped 2.8 per cent. Shares in Apple closed down more than five per cent.

Treasury bond markets closed for a public holiday.

By mid-afternoon, the broad-based slide prompted President Donald Trump to point the finger, while citing no evidence, at congressional Democrats, who won control of the House of Representatives in last week's elections.

"The prospect of Presidential Harassment by the Dems is causing the Stock Market big headaches!" he wrote on Twitter. Markets had rallied the day after the vote.

Meanwhile, Bloomberg reported Monday afternoon that Trump was considering unveiling fresh auto tariffs, erasing gains by General Motors and helping push markets even lower.

Earlier in the Eurozone, the Frankfurt and Paris stock markets had dropped as well, weighed down in part by lingering concerns over Italy's high debt and Tuesday's EU deadline for Rome to revise its 2019 budget.

The dollar continued to strengthen against its major rivals, meanwhile, hitting its highest levels since the first half of 2017.

The European Union's chief Brexit negotiator warned ministers from the other 27 member states on Monday that no deal has been sealed on Britain's departure from the bloc.

Elsewhere, Saudi Arabia's energy minister called for a global output cut of a million barrels per day to re-balance the market, as Riyadh unveiled plans to trim its own production by 500,000 barrels per day from December.

Khalid al-Falih's comments follow a meeting in Abu Dhabi at the weekend, where the OPEC group and its allies had already started laying the groundwork to reduce supply in 2019.

Benchmark crude prices still finished lower in New York and London. Oil prices have shed about one-fifth of their value over the past month on oversupplies and signs of a softer-than-expected impact from US sanctions on Iranian crude exports.

Last week, higher US energy stockpiles drove WTI crude to its longest losing streak in more than 30 years, while Brent dropped below $70 a barrel for the first time since April.

Tobacco stocks also suffered following media reports that US health regulators expect to announce plans as soon as this week to seek a ban on menthol cigarettes and to limit sales of e-cigarettes.

British American Tobacco shedding 10.62 per cent to £29.96 and Imperial Tobacco losing almost 2.2 per cent on reports of a planned US ban on menthol cigarettes, which researchers have said pose a greater health risk than traditional ones.

American tobacco producers likewise headed south on the news.

Wall Street crumbled on Monday as fears for demand in the tech sector turned into a broader retreat from stocks while oil prices slid to an 11th straight day of losses despite a Saudi offer to limit output.

Wall Street crumbled on Monday as fears for demand in the tech sector turned into a broader retreat from stocks while oil prices slid to an 11th straight day of losses despite a Saudi offer to limit output. European equities also closed lower with Frankfurt and Paris weighed down in part by lingering concerns over Italy's high debt and Tuesday's EU-deadline for Rome to revise its 2019 budget. Trading got off to a bad start in New York, with Apple shares declining after a key parts supplier said a client had cut orders significantly, stoking fears of waning demand for iPhones. "The ecosystem of the supply chain around Apple is starting to feel the slide of demand," Matt Miskin of John Hancock told AFP, noting that he still expected robust holiday season performance in the tech sector. "With a weaker global growth, tech companies are starting to get repriced lower." But a general rout ensued for stocks. Investment bank Goldman Sachs also fell 7.5 per cent, weighing on the financial sector, while embattled engineering giant General Electric had its lowest close in nearly a decade. The Dow and S&P 500 both lost two per cent or more while the tech-heavy Nasdaq dropped 2.8 per cent. Shares in Apple closed down more than five per cent. Treasury bond markets closed for a public holiday. By mid-afternoon, the broad-based slide prompted President Donald Trump to point the finger, while citing no evidence, at congressional Democrats, who won control of the House of Representatives in last week's elections. "The prospect of Presidential Harassment by the Dems is causing the Stock Market big headaches!" he wrote on Twitter. Markets had rallied the day after the vote. Meanwhile, Bloomberg reported Monday afternoon that Trump was considering unveiling fresh auto tariffs, erasing gains by General Motors and helping push markets even lower. Earlier in the Eurozone, the Frankfurt and Paris stock markets had dropped as well, weighed down in part by lingering concerns over Italy's high debt and Tuesday's EU deadline for Rome to revise its 2019 budget. The dollar continued to strengthen against its major rivals, meanwhile, hitting its highest levels since the first half of 2017. The European Union's chief Brexit negotiator warned ministers from the other 27 member states on Monday that no deal has been sealed on Britain's departure from the bloc. Elsewhere, Saudi Arabia's energy minister called for a global output cut of a million barrels per day to re-balance the market, as Riyadh unveiled plans to trim its own production by 500,000 barrels per day from December. Khalid al-Falih's comments follow a meeting in Abu Dhabi at the weekend, where the OPEC group and its allies had already started laying the groundwork to reduce supply in 2019. Benchmark crude prices still finished lower in New York and London. Oil prices have shed about one-fifth of their value over the past month on oversupplies and signs of a softer-than-expected impact from US sanctions on Iranian crude exports. Last week, higher US energy stockpiles drove WTI crude to its longest losing streak in more than 30 years, while Brent dropped below $70 a barrel for the first time since April. Tobacco stocks also suffered following media reports that US health regulators expect to announce plans as soon as this week to seek a ban on menthol cigarettes and to limit sales of e-cigarettes. British American Tobacco shedding 10.62 per cent to £29.96 and Imperial Tobacco losing almost 2.2 per cent on reports of a planned US ban on menthol cigarettes, which researchers have said pose a greater health risk than traditional ones. American tobacco producers likewise headed south on the news.

Wall Street stocks: Dow & Nasdaq tumble; oil prices continue to slide

Goldman Sachs "cheated" Malaysia, leader Mahathir Mohamad said, after two former bankers from the Wall Street titan were charged over a scandal that allegedly saw billions looted from state coffers.&nbsp;

The US Justice Department unveiled criminal charges this month against ex-Goldman bankers Tim Leissner and Ng Chong Hwa, accusing them of working with a Malaysian financier to launder huge sums allegedly stolen from Malaysian sovereign wealth fund 1MDB.

They are accused of involvement in a sophisticated fraud linked to former leader Najib Razak, allegations that played a big factor in the shock defeat of his long-ruling government at polls in May.&nbsp;

In an interview with broadcaster CNBC, Prime Minister Mahathir said that "obviously we've been cheated", when asked about Goldman's dealings in Malaysia.&nbsp;

"There is evidence that Goldman Sachs has done things which are wrong," said the 93-year-old, who is in his second stint as premier after coming out of retirement to take on Najib, his former protege.

Asked about Goldman's compliance controls -- which are supposed to monitor and prevent risky behaviour at the bank -- Mahathir responded: "It does not work very well."

Goldman Sachs did not immediately respond to requests for comment.

Leissner and Ng have been charged with money-laundering and conspiring to bribe officials in Malaysia and Abu Dhabi to hire Goldman for lucrative consulting contracts.&nbsp;

Goldman underwrote US $6.5 billion of bonds issued by 1MDB but US authorities allege that more than US $2.7 billion was siphoned off.&nbsp;

Goldman earned US $600 million in fees for the bond issue.

Leissner pleaded guilty and has agreed to pay US $43.7 million in restitution of ill-gotten gains. Ng has been arrested in Malaysia.

Malaysian financier Low Taek Jho was also charged by the DoJ. Low, allegedly a central figure in looting 1MDB, remains at large.

Goldman Sachs has not been charged over the scandal but its shares fell heavily this week after Malaysia's finance minister said he wanted a full refund of fees paid to the bank.

In a further blow to the bank's image, it has emerged that former chief Lloyd Blankfein met with Low at a private reception in a New York hotel in 2009.

Goldman Sachs "cheated" Malaysia, leader Mahathir Mohamad said, after two former bankers from the Wall Street titan were charged over a scandal that allegedly saw billions looted from state coffers.

Goldman Sachs "cheated" Malaysia, leader Mahathir Mohamad said, after two former bankers from the Wall Street titan were charged over a scandal that allegedly saw billions looted from state coffers. The US Justice Department unveiled criminal charges this month against ex-Goldman bankers Tim Leissner and Ng Chong Hwa, accusing them of working with a Malaysian financier to launder huge sums allegedly stolen from Malaysian sovereign wealth fund 1MDB. They are accused of involvement in a sophisticated fraud linked to former leader Najib Razak, allegations that played a big factor in the shock defeat of his long-ruling government at polls in May. In an interview with broadcaster CNBC, Prime Minister Mahathir said that "obviously we've been cheated", when asked about Goldman's dealings in Malaysia. "There is evidence that Goldman Sachs has done things which are wrong," said the 93-year-old, who is in his second stint as premier after coming out of retirement to take on Najib, his former protege. Asked about Goldman's compliance controls -- which are supposed to monitor and prevent risky behaviour at the bank -- Mahathir responded: "It does not work very well." Goldman Sachs did not immediately respond to requests for comment. Leissner and Ng have been charged with money-laundering and conspiring to bribe officials in Malaysia and Abu Dhabi to hire Goldman for lucrative consulting contracts. Goldman underwrote US $6.5 billion of bonds issued by 1MDB but US authorities allege that more than US $2.7 billion was siphoned off. Goldman earned US $600 million in fees for the bond issue. Leissner pleaded guilty and has agreed to pay US $43.7 million in restitution of ill-gotten gains. Ng has been arrested in Malaysia. Malaysian financier Low Taek Jho was also charged by the DoJ. Low, allegedly a central figure in looting 1MDB, remains at large. Goldman Sachs has not been charged over the scandal but its shares fell heavily this week after Malaysia's finance minister said he wanted a full refund of fees paid to the bank. In a further blow to the bank's image, it has emerged that former chief Lloyd Blankfein met with Low at a private reception in a New York hotel in 2009.

Wall Street titan Goldman Sachs 'cheated' Malaysia: PM

Wall Street was back in aggressive sell-off mode on Friday, with major stock indices losing more than two per cent following disappointing earnings announcements from Amazon and Google parent Alphabet.

Near 1455 GMT, the Dow Jones Industrial Average was down 2.1 per cent at 24,470.18.

The broad-based S&amp;P 500 shed 2.8 per cent to 2,631.14, while the tech-rich Nasdaq Composite Index tumbled 3.4 per cent to 7,066.69.

Wall Street was back in aggressive sell-off mode on Friday, with major stock indices losing more than two per cent following disappointing earnings announcements from Amazon and Google parent Alphabet.

Wall Street was back in aggressive sell-off mode on Friday, with major stock indices losing more than two per cent following disappointing earnings announcements from Amazon and Google parent Alphabet. Near 1455 GMT, the Dow Jones Industrial Average was down 2.1 per cent at 24,470.18. The broad-based S&P 500 shed 2.8 per cent to 2,631.14, while the tech-rich Nasdaq Composite Index tumbled 3.4 per cent to 7,066.69.

US stocks losses deepen amid tech selloff; Dow -2.1%, Nasdaq: -3.4%

Asian shares wobbled in early Friday trade, struggling to shake off the previous day`s global markets rout, after weak results from tech giants Alphabet Inc and Amazon.com heightened concerns over world trade and economic growth.

The shaky start for regional bourses came despite a bounce on Wall Street overnight, which was helped by bargain-hunting and positive earnings from Microsoft Corp.&nbsp;

Those gains were put into perspective, however, as shares of both Amazon.com Inc and Alphabet Inc fell sharply after the closing bell on disappointing earnings.&nbsp;

Predictably, the Nasdaq futures turned down 0.9 per cent and S&amp;P E-mini futures fell 0.6 per cent, underscoring broad worries about US corporate earnings, and the outlook for the economy, which triggered a rout on Wall Street on Wednesday and sent global markets into a tailspin.&nbsp;

In Asia, MSCI`s broadest index of Asia-Pacific shares outside Japan was flat after pushing slightly lower in the opening hour.&nbsp;

The index has been bruised by a heavy sell-off in the past several days, tumbling more than 3 per cent this week.

South Korea`s Kospi was also down 0.6 per cent, and Australia`s shares were hanging on to modest gains of 0.2 per cent. Japan`s Nikkei stock index was the biggest gainer, up 0.5 per cent, though that only partially erased Thursday`s 3.7 per cent slide.

Financial markets have been whipsawed in recent sessions on concerns over global growth as investors fretted over Sino-U.S. trade frictions, a mixed bag of US corporate earnings, Federal Reserve rate hikes and Italian budget woes. A slowdown in China has been particularly worrying for policy makers and investors, hitting asset markets from stocks to currencies and commodities.&nbsp;

Analysts at Capital Economics sounded a cautious note, suggesting that the bounce in the S&amp;P 500 index on Thursday was only temporary as investors worries about the economic outlook worsen.

"The first, and most important (worry) is that Fed tightening and fading fiscal stimulus will cause the US economy to take a turn for the worse ... The second is that China`s economy will continue to struggle," the analysts said in a note to clients.&nbsp;

"As we have been arguing for a while now, these worries are likely to get worse over the next twelve months or so."&nbsp;

Investors will get a chance to check the US economic pulse later Friday when the government releases third-quarter GDP data.&nbsp;

ANZ analysts highlighted weak US core durable goods data as suggesting that "investment is not taking off, even with the apparent tailwind from tax cuts and USD repatriation."

"This indicates that the boost to GDP growth from the fiscal stimulus could be fairly transitory," the analysts said.

In currency markets, the euro edged lower, extending weakness after European Central Bank President Mario Draghi said the bank`s 2.6 trillion euro ($2.96 trillion) asset purchase program will end this year and interest rates could rise after next summer, despite fears about the monetary union`s economic and political future.

The single currency was 0.04 per cent lower at $1.1370.

The dollar dropped 0.1 per cent against the yen to 112.29. The dollar index, which tracks the greenback against a basket of six major rivals, was also 0.1 per cent lower at 96.594.

The yield on benchmark 10-year Treasury notes rose to 3.1073 per cent compared with its US close of 3.136 per cent on Thursday.&nbsp;

Oil prices gave up some ground after earlier rising on signals from Saudi Arabia`s energy minister that there could be a need for intervention to reduce oil stockpiles.

US crude dipped 0.85 percent at $66.76 a barrel. Brent crude fell 0.6 per cent to $76.43 per barrel.&nbsp;

Spot gold was flat at $1,231.75 per ounce.&nbsp;

Asian shares wobbled in early Friday trade, struggling to shake off the previous day`s global markets rout, after weak results from tech giants Alphabet Inc and Amazon.

Asian shares wobbled in early Friday trade, struggling to shake off the previous day`s global markets rout, after weak results from tech giants Alphabet Inc and Amazon.com heightened concerns over world trade and economic growth. The shaky start for regional bourses came despite a bounce on Wall Street overnight, which was helped by bargain-hunting and positive earnings from Microsoft Corp. Those gains were put into perspective, however, as shares of both Amazon.com Inc and Alphabet Inc fell sharply after the closing bell on disappointing earnings. Predictably, the Nasdaq futures turned down 0.9 per cent and S&P E-mini futures fell 0.6 per cent, underscoring broad worries about US corporate earnings, and the outlook for the economy, which triggered a rout on Wall Street on Wednesday and sent global markets into a tailspin. In Asia, MSCI`s broadest index of Asia-Pacific shares outside Japan was flat after pushing slightly lower in the opening hour. The index has been bruised by a heavy sell-off in the past several days, tumbling more than 3 per cent this week. South Korea`s Kospi was also down 0.6 per cent, and Australia`s shares were hanging on to modest gains of 0.2 per cent. Japan`s Nikkei stock index was the biggest gainer, up 0.5 per cent, though that only partially erased Thursday`s 3.7 per cent slide. Financial markets have been whipsawed in recent sessions on concerns over global growth as investors fretted over Sino-U.S. trade frictions, a mixed bag of US corporate earnings, Federal Reserve rate hikes and Italian budget woes. A slowdown in China has been particularly worrying for policy makers and investors, hitting asset markets from stocks to currencies and commodities. Analysts at Capital Economics sounded a cautious note, suggesting that the bounce in the S&P 500 index on Thursday was only temporary as investors worries about the economic outlook worsen. "The first, and most important (worry) is that Fed tightening and fading fiscal stimulus will cause the US economy to take a turn for the worse ... The second is that China`s economy will continue to struggle," the analysts said in a note to clients. "As we have been arguing for a while now, these worries are likely to get worse over the next twelve months or so." Investors will get a chance to check the US economic pulse later Friday when the government releases third-quarter GDP data. ANZ analysts highlighted weak US core durable goods data as suggesting that "investment is not taking off, even with the apparent tailwind from tax cuts and USD repatriation." "This indicates that the boost to GDP growth from the fiscal stimulus could be fairly transitory," the analysts said. In currency markets, the euro edged lower, extending weakness after European Central Bank President Mario Draghi said the bank`s 2.6 trillion euro ($2.96 trillion) asset purchase program will end this year and interest rates could rise after next summer, despite fears about the monetary union`s economic and political future. The single currency was 0.04 per cent lower at $1.1370. The dollar dropped 0.1 per cent against the yen to 112.29. The dollar index, which tracks the greenback against a basket of six major rivals, was also 0.1 per cent lower at 96.594. The yield on benchmark 10-year Treasury notes rose to 3.1073 per cent compared with its US close of 3.136 per cent on Thursday. Oil prices gave up some ground after earlier rising on signals from Saudi Arabia`s energy minister that there could be a need for intervention to reduce oil stockpiles. US crude dipped 0.85 percent at $66.76 a barrel. Brent crude fell 0.6 per cent to $76.43 per barrel. Spot gold was flat at $1,231.75 per ounce.

Asian shares struggle to shake off rout despite Wall Street bounce

Wall Street rebounded strongly on Thursday from the prior session's rout, with tech shares leading a broad-based rally following a series of mostly good earnings reports.

The tech-rich Nasdaq Composite Index jumped 3.0 per cent to 7,318.34, a day after the index suffered its biggest decline in seven years.

The Dow Jones Industrial Average gained 1.6 per cent to 24,984.55, while the broad-based S&amp;P 500 advanced 1.9 per cent to 2,705.57.

Analysts said the gains were unsurprising after Wednesday's ugly finale, especially after strong earnings from Microsoft, Tesla Motors and others reassured investors.

"We are seeing what we call a bottom fishing today," said Howard Silverblatt, senior analyst at S&amp;P Dow Jones Indices.

Major US indices lost more than two per cent Wednesday in a bruising sell-off precipitated by fears over slowing corporate earnings growth.

Other issues that have pressured stocks include worries about rising US interest rates and uncertainty over the fallout from the murder of Saudi Arabian journalist Jamal Khashoggi.

Companies with big gains after earnings Thursday included Microsoft, which rebounded 5.8 per cent, Tesla, up 9.1 per cent, American Airlines, up 6.7 per cent, Ford, up 10.0 per cent and Twitter, up 15.5 per cent.

"After a severe sell-off its perfectly normal to see the market rebound," analyst Adam Sarhan said. "The key question: Is it a one-or two-day rally or is it a new trend?"

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Wall Street rebounded strongly on Thursday from the prior session's rout, with tech shares leading a broad-based rally following a series of mostly good earnings reports.

Wall Street rebounded strongly on Thursday from the prior session's rout, with tech shares leading a broad-based rally following a series of mostly good earnings reports. The tech-rich Nasdaq Composite Index jumped 3.0 per cent to 7,318.34, a day after the index suffered its biggest decline in seven years. The Dow Jones Industrial Average gained 1.6 per cent to 24,984.55, while the broad-based S&P 500 advanced 1.9 per cent to 2,705.57. Analysts said the gains were unsurprising after Wednesday's ugly finale, especially after strong earnings from Microsoft, Tesla Motors and others reassured investors. "We are seeing what we call a bottom fishing today," said Howard Silverblatt, senior analyst at S&P Dow Jones Indices. Major US indices lost more than two per cent Wednesday in a bruising sell-off precipitated by fears over slowing corporate earnings growth. Other issues that have pressured stocks include worries about rising US interest rates and uncertainty over the fallout from the murder of Saudi Arabian journalist Jamal Khashoggi. Companies with big gains after earnings Thursday included Microsoft, which rebounded 5.8 per cent, Tesla, up 9.1 per cent, American Airlines, up 6.7 per cent, Ford, up 10.0 per cent and Twitter, up 15.5 per cent. "After a severe sell-off its perfectly normal to see the market rebound," analyst Adam Sarhan said. "The key question: Is it a one-or two-day rally or is it a new trend?"

Wall Street rebounds after rout, Nasdaq +3.0%

Asian shares fell on Tuesday as earnings season nerves in the US dented Wall Street, while a cocktail of negative drivers from Saudi Arabia's diplomatic isolation to concerns over Italy's budget and Brexit talks depressed sentiment.

Selling in the region erased gains made in the previous two sessions' rally, which were led by China stimulus hopes, with the MSCI's broadest index of Asia-Pacific shares outside Japan dropping 1.3 per cent.

South Korea's Kospi fell as much as 2.5 per cent and was on course to hit a 1-1/2-year low. In Japan, the Nikkei fell 2.3 per cent.

US stock futures dropped 0.8 per cent in early Tuesday trade. On Monday the S&amp;P 500 lost 0.43 per cent as investors kept a wary eye on earnings amid global growth worries. Enthusiasm over some of the upbeat results was also tempered by the growing political uncertainty around the world.

"In short, the world seems to be getting into chaos," said Akira Takei, bond fund manager at Asset Management One.

US President Donald Trump said on Monday he was not satisfied with what he had heard from Saudi Arabia about the killing of journalist Jamal Khashoggi at its consulate in Turkey.

Trump has expressed reluctance to punish the Saudis economically. But while Saudi Arabia has sought to shield its powerful crown prince from the killing, many officials have cast doubt on Riyadh's narrative.

Several countries, including Germany, Britain, France and Turkey, have pressed Saudi Arabia to provide all the facts.

An immediate market focus is on Turkish President Tayyip Erdogan, who said he will release information about the investigation in a speech on Tuesday.

Any signs of instability in Saudi Arabia, a major oil producer as well as a big investor in financial markets, could have wide-ranging repercussions.

"I would think this issue could drag on for some time," said Asset Management One's Takei.

In Europe, Italy told the European Commission on Monday it would stick to its contested 2019 budget plans in defiance of EU fiscal rules.

The European Commision will decide on its response on Tuesday.

The euro traded at $1.1466, having lost 0.44 per cent the previous day to edge near its October&nbsp;9tth low of $1.14325, its lowest level since mid-August.

Although Italian bond prices rose on relief after Moody's did not slap on a negative outlook as the market had feared, European stock markets were less enthused.

France's CAC closed at the lowest level in more than a year while Italian shares hit 1-1/2-year lows and Spanish shares ended at their weakest level since late 2016.

The British pound stood at $1.2965, hovering just above this month's low of $1.2922 on fears the Irish border issue and disagreements within Britain's ruling Conservatives over Brexit could see Prime Minister Theresa May face a serious leadership challenge.

The yen eased to 112.82 per dollar, touching its lowest levels in about two weeks.

The yuan was little changed but stood near Monday's 21-month low of 6.9445 per dollar in the onshore trade on expectations China will pursue looser monetary policy to cope with pressure from US President Trump on tariffs.

Chinese shares also lost steam after two days of strong gains following guidance from Chinese officials, including Vice Premier Liu He, to major investors to support the sagging stock market.

"Any stimulus by China should be viewed not as a boost but as a cushion against a slowing economy against external headwinds," said analysts at DBS in Singapore.

"This reality was better reflected in the Chinese yuan which continued to trade weaker against the central parity in both the onshore and offshore markets."

Oil prices fell on Tuesday after Saudi Arabia pledged to play a "responsible role" in energy markets, although sentiment remained nervous in the run-up to US&nbsp;sanctions against Iran's crude exports that start next month.

Saudi Arabia has pledged to keep markets supplied despite its increasing isolation over Khashoggi's killing, easing fears Riyadh may use oil production as its diplomatic weapons.

Front-month Brent crude oil futures were at $79.60 a barrel, down 0.3 per cent.

US West Texas Intermediate(WTI) crude futures were at $69.22 a barrel, dropping 0.2 per cent.

Asian shares fell on Tuesday as earnings season nerves in the US dented Wall Street, while a cocktail of negative drivers from Saudi Arabia's diplomatic isolation to concerns over Italy's budget and Brexit talks depressed sentiment.

Asian shares fell on Tuesday as earnings season nerves in the US dented Wall Street, while a cocktail of negative drivers from Saudi Arabia's diplomatic isolation to concerns over Italy's budget and Brexit talks depressed sentiment. Selling in the region erased gains made in the previous two sessions' rally, which were led by China stimulus hopes, with the MSCI's broadest index of Asia-Pacific shares outside Japan dropping 1.3 per cent. South Korea's Kospi fell as much as 2.5 per cent and was on course to hit a 1-1/2-year low. In Japan, the Nikkei fell 2.3 per cent. US stock futures dropped 0.8 per cent in early Tuesday trade. On Monday the S&P 500 lost 0.43 per cent as investors kept a wary eye on earnings amid global growth worries. Enthusiasm over some of the upbeat results was also tempered by the growing political uncertainty around the world. "In short, the world seems to be getting into chaos," said Akira Takei, bond fund manager at Asset Management One. US President Donald Trump said on Monday he was not satisfied with what he had heard from Saudi Arabia about the killing of journalist Jamal Khashoggi at its consulate in Turkey. Trump has expressed reluctance to punish the Saudis economically. But while Saudi Arabia has sought to shield its powerful crown prince from the killing, many officials have cast doubt on Riyadh's narrative. Several countries, including Germany, Britain, France and Turkey, have pressed Saudi Arabia to provide all the facts. An immediate market focus is on Turkish President Tayyip Erdogan, who said he will release information about the investigation in a speech on Tuesday. Any signs of instability in Saudi Arabia, a major oil producer as well as a big investor in financial markets, could have wide-ranging repercussions. "I would think this issue could drag on for some time," said Asset Management One's Takei. In Europe, Italy told the European Commission on Monday it would stick to its contested 2019 budget plans in defiance of EU fiscal rules. The European Commision will decide on its response on Tuesday. The euro traded at $1.1466, having lost 0.44 per cent the previous day to edge near its October 9tth low of $1.14325, its lowest level since mid-August. Although Italian bond prices rose on relief after Moody's did not slap on a negative outlook as the market had feared, European stock markets were less enthused. France's CAC closed at the lowest level in more than a year while Italian shares hit 1-1/2-year lows and Spanish shares ended at their weakest level since late 2016. The British pound stood at $1.2965, hovering just above this month's low of $1.2922 on fears the Irish border issue and disagreements within Britain's ruling Conservatives over Brexit could see Prime Minister Theresa May face a serious leadership challenge. The yen eased to 112.82 per dollar, touching its lowest levels in about two weeks. The yuan was little changed but stood near Monday's 21-month low of 6.9445 per dollar in the onshore trade on expectations China will pursue looser monetary policy to cope with pressure from US President Trump on tariffs. Chinese shares also lost steam after two days of strong gains following guidance from Chinese officials, including Vice Premier Liu He, to major investors to support the sagging stock market. "Any stimulus by China should be viewed not as a boost but as a cushion against a slowing economy against external headwinds," said analysts at DBS in Singapore. "This reality was better reflected in the Chinese yuan which continued to trade weaker against the central parity in both the onshore and offshore markets." Oil prices fell on Tuesday after Saudi Arabia pledged to play a "responsible role" in energy markets, although sentiment remained nervous in the run-up to US sanctions against Iran's crude exports that start next month. Saudi Arabia has pledged to keep markets supplied despite its increasing isolation over Khashoggi's killing, easing fears Riyadh may use oil production as its diplomatic weapons. Front-month Brent crude oil futures were at $79.60 a barrel, down 0.3 per cent. US West Texas Intermediate(WTI) crude futures were at $69.22 a barrel, dropping 0.2 per cent.

Asian stocks fall on Wall Street earnings fear, Khashoggi

World stocks rose on Friday, lifted by strong share price gains for tech giants such as Amazon and Facebook and growing hopes of a lasting peace on the Korean peninsula after a ground-breaking meeting of North and South Korean leaders.

European shares were set to end the week with a flourish too with a pan-European index set to post its fifth week of gains in a row, with the tech sector outperforming.

The latest gains are being partly spurred by forecast-beating first-quarter earnings from two of the so-called FANG tech stocks -- some of the world's largest and most influential companies by market capitalisation -- which has boosted sentiment on the technology sector worldwide.

Still, US&nbspstock futures pointed to a weaker open for Wall Street after Thursday's earnings-driven rally.

Amazon.com Inc shares jumped more than 6 per cent in after-market trading while Facebook surged 9.1 per cent on Thursday, calming worries about the fallout from its use of consumer data.

"Macroeconomic data has been soft in a number of key economies, so it is reassuring that amidst those concerns we are still seeing strong earnings numbers coming through from big ticket corporates such as Amazon and Facebook," said Investec economist Victoria Clarke.

"This is a good gauge of the broad drivers of sentiment particularly when there are those concerns about demand holding up in the face of weak economic data," Clarke added.

European tech shares rose 1 per cent to the highest in more than five weeks, buoyed also by gains in local IT and chipmaking firms such as Capgemini, ASML and Infineon.

Sterling slides

Sterling slumped to its lowest since March 9 against the dollar after data showed Britain's economy slowed much more sharply than expected in the first quarter of 2018, slashing market expectations of a Bank of England rate hike in May.

The currency was last down 1 per cent at $1.3770. It also fell 1 per cent against the euro to 87.85 pence and was on track for its worst day since November.

"A May rate hike is off the table now this pushes the hike back to August at the earliest and more likely November," said Jake Trask, a currencies analyst at OFX.

However, sterling's slide helped shares on Britain's FTSE index to rise 0.7 per cent with gains led by multi-national earners which earn a big chunk of their revenues overseas but report profits in pounds.

The weak data adds to concerns that economic growth across the developed world is running out of steam, especially after lacklustre euro zone figures earlier in the week and data on Friday showing French economic growth slowed more than expected in the first quarter.

The European Central Bank on Thursday played down concerns over softness in the euro zone economy as it sought to bolster expectations for a gradual withdrawal of monetary stimulus.

On Friday, Japan's central bank kept policy unchanged but ditched a time frame it had set for hitting its inflation target, in a surprise move analysts say is aimed at keeping market expectations for more stimulus in check.

"Within a 12 hour period it seems like the expectations are three key central banks will delay any tightening of monetary policy from what was previously expected... Equity markets should be comforted by that," said Bob Michele, CIO and head of global fixed income, currency and commodities at JPMorgan Asset Management.

Historic moment for Korea

South Korea's won led a rebound in emerging market currencies as comments from North Korea's Kim Jong Un of a "new history" between the two sides helped end a brutal week for emerging market currencies on a positive note.

North and South Korea agreed on Friday to pursue the "complete denuclearisation of the Korean peninsula" and work towards declaring an official end this year to the 1950s Korean war.

The won rose as much as 0.6 per cent against the dollar, while Asian stock markets also revelled in the glow of the summit between North and South Korea.

Seoul shares briefly rise more than 1 per cent to a one-month high, while MSCI's index of Asian shares outside Japan rallied 0.8 per cent and Japan's Nikkei share average rose 0.7 percent to two-month peaks.

The dollar meanwhile hit its highest since Jan. 12 against a basket of currencies, having benefited from the recent run in US&nbspTreasury yields -- 10-year yields hit 3 per cent this week for the first time since January 2014.

With a weekly gain of more than 1.5 per cent, the greenback is set for its best weekly performance since late 2016.

European shares were set to end the week with a flourish too with a pan-European index set to post its fifth week of gains in a row, with the tech sector outperforming

World stocks rose on Friday, lifted by strong share price gains for tech giants such as Amazon and Facebook and growing hopes of a lasting peace on the Korean peninsula after a ground-breaking meeting of North and South Korean leaders. European shares were set to end the week with a flourish too with a pan-European index set to post its fifth week of gains in a row, with the tech sector outperforming. The latest gains are being partly spurred by forecast-beating first-quarter earnings from two of the so-called FANG tech stocks -- some of the world's largest and most influential companies by market capitalisation -- which has boosted sentiment on the technology sector worldwide. Still, US&nbspstock futures pointed to a weaker open for Wall Street after Thursday's earnings-driven rally. Amazon.com Inc shares jumped more than 6 per cent in after-market trading while Facebook surged 9.1 per cent on Thursday, calming worries about the fallout from its use of consumer data. "Macroeconomic data has been soft in a number of key economies, so it is reassuring that amidst those concerns we are still seeing strong earnings numbers coming through from big ticket corporates such as Amazon and Facebook," said Investec economist Victoria Clarke. "This is a good gauge of the broad drivers of sentiment particularly when there are those concerns about demand holding up in the face of weak economic data," Clarke added. European tech shares rose 1 per cent to the highest in more than five weeks, buoyed also by gains in local IT and chipmaking firms such as Capgemini, ASML and Infineon. Sterling slides Sterling slumped to its lowest since March 9 against the dollar after data showed Britain's economy slowed much more sharply than expected in the first quarter of 2018, slashing market expectations of a Bank of England rate hike in May. The currency was last down 1 per cent at $1.3770. It also fell 1 per cent against the euro to 87.85 pence and was on track for its worst day since November. "A May rate hike is off the table now this pushes the hike back to August at the earliest and more likely November," said Jake Trask, a currencies analyst at OFX. However, sterling's slide helped shares on Britain's FTSE index to rise 0.7 per cent with gains led by multi-national earners which earn a big chunk of their revenues overseas but report profits in pounds. The weak data adds to concerns that economic growth across the developed world is running out of steam, especially after lacklustre euro zone figures earlier in the week and data on Friday showing French economic growth slowed more than expected in the first quarter. The European Central Bank on Thursday played down concerns over softness in the euro zone economy as it sought to bolster expectations for a gradual withdrawal of monetary stimulus. On Friday, Japan's central bank kept policy unchanged but ditched a time frame it had set for hitting its inflation target, in a surprise move analysts say is aimed at keeping market expectations for more stimulus in check. "Within a 12 hour period it seems like the expectations are three key central banks will delay any tightening of monetary policy from what was previously expected... Equity markets should be comforted by that," said Bob Michele, CIO and head of global fixed income, currency and commodities at JPMorgan Asset Management. Historic moment for Korea South Korea's won led a rebound in emerging market currencies as comments from North Korea's Kim Jong Un of a "new history" between the two sides helped end a brutal week for emerging market currencies on a positive note. North and South Korea agreed on Friday to pursue the "complete denuclearisation of the Korean peninsula" and work towards declaring an official end this year to the 1950s Korean war. The won rose as much as 0.6 per cent against the dollar, while Asian stock markets also revelled in the glow of the summit between North and South Korea. Seoul shares briefly rise more than 1 per cent to a one-month high, while MSCI's index of Asian shares outside Japan rallied 0.8 per cent and Japan's Nikkei share average rose 0.7 percent to two-month peaks. The dollar meanwhile hit its highest since Jan. 12 against a basket of currencies, having benefited from the recent run in US&nbspTreasury yields -- 10-year yields hit 3 per cent this week for the first time since January 2014. With a weekly gain of more than 1.5 per cent, the greenback is set for its best weekly performance since late 2016.

Tech gains, Korean talks lift world stock markets; sterling tumbles 

<a href="http://www.wionews.com/world/brazils-lula-defies-prison-order-creating-standoff-128823">Brazil's Lula defies prison order, creating standoff</a>

Brazil's former President Luiz Inacio Lula da Silva defied a judge's order to turn himself into police on Friday and start serving a 12-year prison sentence for bribery that would likely end his hopes of regaining the presidency.

<a href="http://www.wionews.com/india-news/blackbuck-poaching-case-salmans-bail-likely-to-get-delayed--128821">Blackbuck poaching case: Salman's bail hearing likely to get delayed</a>

Bollywood actor Salman Khan may have to spend a few more nights in jail as the District and Sessions Judge, who was scheduled to hear the actor's bail plea in blackbuck poaching case has been transferred by the Rajasthan High Court.

<a href="http://www.wionews.com/india-news/weightlifter-sathish-claims-second-successive-cwg-gold-128840">Weightlifter Sathish claims second successive CWG gold</a>

Defending champion weightlifter Sathish Sivalingam (77kg) claimed India's third gold medal in the Commonwealth Games, coming out tops comfortably on Saturday.

<a href="http://www.wionews.com/world/schwarzenegger-back-home-after-heart-surgery-spokesman-128824">Schwarzenegger back home after heart surgery: Spokesman</a>

Action hero Arnold Schwarzenegger is back home in Los Angeles and in good spirits after undergoing open heart surgery following complications with a routine operation, his spokesman said on Friday.

<a href="http://www.wionews.com/world/wall-street-ends-down-2-percent-as-us-china-trade-fears-intensify-128830">Wall Street ends down 2 </a><a href="http://www.wionews.com/world/wall-street-ends-down-2-percent-as-us-china-trade-fears-intensify-128830">per cent</a><a href="http://www.wionews.com/world/wall-street-ends-down-2-percent-as-us-china-trade-fears-intensify-128830"> as US-China trade fears intensify</a>

US stocks dropped about 2 per cent on Friday, with the Dow falling more than 570 points, as US President Donald Trump's latest tariff threat on Chinese imports fuelled increasing concern over a US trade war with China. 
&nbsp;

Brazil's Lula defies prison order, creating standoff Brazil's former President Luiz Inacio Lula da Silva defied a judge's order to turn himself into police on Friday and start serving a 12-year prison sentence for bribery that would likely end his hopes of regaining the presidency. Blackbuck poaching case: Salman's bail hearing likely to get delayed Bollywood actor Salman Khan may have to spend a few more nights in jail as the District and Sessions Judge, who was scheduled to hear the actor's bail plea in blackbuck poaching case has been transferred by the Rajasthan High Court. Weightlifter Sathish claims second successive CWG gold Defending champion weightlifter Sathish Sivalingam (77kg) claimed India's third gold medal in the Commonwealth Games, coming out tops comfortably on Saturday. Schwarzenegger back home after heart surgery: Spokesman Action hero Arnold Schwarzenegger is back home in Los Angeles and in good spirits after undergoing open heart surgery following complications with a routine operation, his spokesman said on Friday. Wall Street ends down 2 per cent as US-China trade fears intensify US stocks dropped about 2 per cent on Friday, with the Dow falling more than 570 points, as US President Donald Trump's latest tariff threat on Chinese imports fuelled increasing concern over a US trade war with China.

News brief: Big five stories of the day

US stocks dropped about 2 per cent on Friday, with the Dow falling more than 570 points, as US President Donald Trump's latest tariff threat on Chinese imports fuelled increasing concern over a US trade war with China.

Stocks added to losses and hit session lows in afternoon trading after Federal Reserve Chairman Jerome Powell said the US central bank will likely need to keep hiking interest rates to keep inflation under control and said it was too soon to know if rising trade tensions would hit the US economy.

Fears of a trade war since Trump announced tariffs on steel and aluminium imports more than a month ago have kept investors on edge over concerns that such protectionist measures would hit global economic growth.

"It's a reaction to concerns about the administration's approach to trade. The market has vacillated between writing it off as just talk and assuming there could be a serious problem," said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey.

He and others said investors also appeared to be reducing risk ahead of the weekend.

"If the market is down it often tends to accelerate on Friday. Investors don't want to take the risk of coming in Monday after having something happen over the weekend," Meckler said.

Trump late Thursday threatened to slap $100 billion more in tariffs on Chinese imports, while Beijing said it was fully prepared to respond with a "fierce counter strike".

US companies seen as more likely to be hit by trade tensions with China were among the biggest drags on the Dow including Boeing down 3.1 percent. The S&P 500 industrials index down 2.7 percent, had the biggest losses among sectors, though selling was broad-based.

Chipmakers, which as a group rely on China for about a quarter of their revenue, also declined. The Philadelphia semiconductor index fell 3.1 percent.

The Dow Jones Industrial Average fell 572.46 points, or 2.34 percent, to 23,932.76, the S&P 500 lost 58.37 points, or 2.19 percent, to 2,604.47 and the Nasdaq Composite dropped 161.44 points, or 2.28 percent, to 6,915.11.

The trade war worries continued to pressure stocks even as Trump administration officials sought to dampen concerns. Trump's top economic adviser Larry Kudlow said in various interviews that he learned of the new tariffs on Thursday night, but also said there are ongoing talks on trade between the United States and China.

US Treasury Secretary Steve Mnuchin in an interview on CNBC said he was cautiously hopeful the United States will reach an agreement with China on trade.

The S&P 500 ended just above its 200-day moving average after trading well below that key support level that is watched by technical analysts.

Powell, who was speaking on the U.S. economic outlook in Chicago, also said the labour market appeared close to full employment. It was his first speech on the economic outlook since taking over as chairman on Feb. 5.

Before the session started, a Labor Department report showed nonfarm payrolls increased by a smaller-than-expected 103,000 last month. While annual growth in average hourly earnings rose to 2.7 percent, it stayed below the 3 percent that economists estimate is needed to lift inflation toward the Federal Reserve's 2-percent target.

"There was a hope that if he had a more dovish tone that that might be a counterbalance to the trade headwinds out there," said Michael O'Rourke, chief market strategist at JonesTrading in Greenwich, Connecticut.

For the week, the S&P 500 was down 1.4 percent, the Dow was down 0.7 percent and the Nasdaq was down 2.1 percent.

Facebook share were down 1.3 percent. It backed for the first time proposed legislation requiring social media sites to disclose the identities of buyers of online political campaign ads and introduced a new verification process for people buying "issue" ads, which have been used to sow discord online.

Declining issues outnumbered advancing ones on the NYSE by a 3.77-to-1 ratio on Nasdaq, a 3.59-to-1 ratio favored decliners.

The S&P 500 posted two new 52-week highs and seven new lows the Nasdaq Composite recorded 40 new highs and 64 new lows.

About 7.2 billion shares changed hands on U.S. exchanges. That compares with the 7.3 billion daily average for the past 20 trading days, according to Thomson Reuters data.

Fears of a trade war since Trump announced tariffs on steel and aluminium imports more than a month ago have kept investors on edge over concerns that such protectionist measures would hit global economic growth.

US stocks dropped about 2 per cent on Friday, with the Dow falling more than 570 points, as US President Donald Trump's latest tariff threat on Chinese imports fuelled increasing concern over a US trade war with China. Stocks added to losses and hit session lows in afternoon trading after Federal Reserve Chairman Jerome Powell said the US central bank will likely need to keep hiking interest rates to keep inflation under control and said it was too soon to know if rising trade tensions would hit the US economy. Fears of a trade war since Trump announced tariffs on steel and aluminium imports more than a month ago have kept investors on edge over concerns that such protectionist measures would hit global economic growth. "It's a reaction to concerns about the administration's approach to trade. The market has vacillated between writing it off as just talk and assuming there could be a serious problem," said Rick Meckler, president of investment firm LibertyView Capital Management in Jersey City, New Jersey. He and others said investors also appeared to be reducing risk ahead of the weekend. "If the market is down it often tends to accelerate on Friday. Investors don't want to take the risk of coming in Monday after having something happen over the weekend," Meckler said. Trump late Thursday threatened to slap $100 billion more in tariffs on Chinese imports, while Beijing said it was fully prepared to respond with a "fierce counter strike". US companies seen as more likely to be hit by trade tensions with China were among the biggest drags on the Dow including Boeing down 3.1 percent. The S&P 500 industrials index down 2.7 percent, had the biggest losses among sectors, though selling was broad-based. Chipmakers, which as a group rely on China for about a quarter of their revenue, also declined. The Philadelphia semiconductor index fell 3.1 percent. The Dow Jones Industrial Average fell 572.46 points, or 2.34 percent, to 23,932.76, the S&P 500 lost 58.37 points, or 2.19 percent, to 2,604.47 and the Nasdaq Composite dropped 161.44 points, or 2.28 percent, to 6,915.11. The trade war worries continued to pressure stocks even as Trump administration officials sought to dampen concerns. Trump's top economic adviser Larry Kudlow said in various interviews that he learned of the new tariffs on Thursday night, but also said there are ongoing talks on trade between the United States and China. US Treasury Secretary Steve Mnuchin in an interview on CNBC said he was cautiously hopeful the United States will reach an agreement with China on trade. The S&P 500 ended just above its 200-day moving average after trading well below that key support level that is watched by technical analysts. Powell, who was speaking on the U.S. economic outlook in Chicago, also said the labour market appeared close to full employment. It was his first speech on the economic outlook since taking over as chairman on Feb. 5. Before the session started, a Labor Department report showed nonfarm payrolls increased by a smaller-than-expected 103,000 last month. While annual growth in average hourly earnings rose to 2.7 percent, it stayed below the 3 percent that economists estimate is needed to lift inflation toward the Federal Reserve's 2-percent target. "There was a hope that if he had a more dovish tone that that might be a counterbalance to the trade headwinds out there," said Michael O'Rourke, chief market strategist at JonesTrading in Greenwich, Connecticut. For the week, the S&P 500 was down 1.4 percent, the Dow was down 0.7 percent and the Nasdaq was down 2.1 percent. Facebook share were down 1.3 percent. It backed for the first time proposed legislation requiring social media sites to disclose the identities of buyers of online political campaign ads and introduced a new verification process for people buying "issue" ads, which have been used to sow discord online. Declining issues outnumbered advancing ones on the NYSE by a 3.77-to-1 ratio on Nasdaq, a 3.59-to-1 ratio favored decliners. The S&P 500 posted two new 52-week highs and seven new lows the Nasdaq Composite recorded 40 new highs and 64 new lows. About 7.2 billion shares changed hands on U.S. exchanges. That compares with the 7.3 billion daily average for the past 20 trading days, according to Thomson Reuters data.

Wall Street ends down 2 per cent as US-China trade fears intensify

Domestic equities staged a strong comeback with the BSE Sensex rebounding by nearly 400 points and the Nifty reclaiming the 10,250-mark on receding fears of a US-China trade war.

Investors were also awaiting RBI's monetary policy outcome, scheduled later in the day.

The 30-share Sensex spurted by 393.60 points, or 1.19 per cent, to 33,412.67 in opening trade. The gauge had lost 351.56 points in the previous session.

All the sectoral indices, led by metal, realty and auto stocks, were trading in the green with gains of up to 2.26 per cent.

The broad-based NSE Nifty went up by 129.05 points, or 1.27 per cent, to 10,257.45.

Major gainers that supported the recovery were Tata Motors, Tata Steel, M&M, Adani Ports, Yes Bank, Hero MotoCorp, IndusInd Bank, Axis Bank, SBI, Coal India, L&T, Dr Reddy's, Infosys and Sun Pharma, rising up to 2.68 per cent.

A firm trend in other Asian markets and overnight gains on Wall Street buoyed the trading sentiments.

Brokers said buying by retail investors and fresh foreign fund inflows amid a firm trend in global markets led the markets higher.

Elsewhere in Asia, Japan's Nikkei was up 1.63 per cent, while Hong Kong and Shanghai markets were shut today for a public holiday today.

The US Dow Jones Industrial Average ended 0.96 per cent higher in yesterday's trade.

All the sectoral indices, led by metal, realty and auto stocks, were trading in the green with gains of up to 2.26 per cent.

Domestic equities staged a strong comeback with the BSE Sensex rebounding by nearly 400 points and the Nifty reclaiming the 10,250-mark on receding fears of a US-China trade war. Investors were also awaiting RBI's monetary policy outcome, scheduled later in the day. The 30-share Sensex spurted by 393.60 points, or 1.19 per cent, to 33,412.67 in opening trade. The gauge had lost 351.56 points in the previous session. All the sectoral indices, led by metal, realty and auto stocks, were trading in the green with gains of up to 2.26 per cent. The broad-based NSE Nifty went up by 129.05 points, or 1.27 per cent, to 10,257.45. Major gainers that supported the recovery were Tata Motors, Tata Steel, M&M, Adani Ports, Yes Bank, Hero MotoCorp, IndusInd Bank, Axis Bank, SBI, Coal India, L&T, Dr Reddy's, Infosys and Sun Pharma, rising up to 2.68 per cent. A firm trend in other Asian markets and overnight gains on Wall Street buoyed the trading sentiments. Brokers said buying by retail investors and fresh foreign fund inflows amid a firm trend in global markets led the markets higher. Elsewhere in Asia, Japan's Nikkei was up 1.63 per cent, while Hong Kong and Shanghai markets were shut today for a public holiday today. The US Dow Jones Industrial Average ended 0.96 per cent higher in yesterday's trade.

Sensex surges over 390 points in early trade

Janet Yellen visited Wall Street for a paid appearance two months after stepping down as Fed chair, discussing the economy and interest rates at an event hosted by investment bank Jefferies that included a sit-down dinner for forty.&nbsp

In a short telephone interview, Yellen, who ran the US Federal Reserve the last four years until early February, said she revealed no confidential information at Monday's gathering, put on by Jefferies CEO Richard Handler.&nbsp

One source familiar with the event told it was her first such engagement since leaving the Fed.&nbsp

"I talked about the economy and general perspectives on monetary policy," Yellen said late on Wednesday. She said she was paid but declined to say how much, and did not provide details.&nbsp

The program included a question-and-answer session with more than 100 Jefferies clients, where according to the source she stuck close to the gradual rate-hike message that her successor, Jerome Powell, has also delivered since taking charge.&nbsp

Later, over dinner at the Manhattan penthouse of Jefferies' chief executive, Yellen told executives from hedge funds, private equity firms and other companies that she considered inflation to be in check and unlikely to spike, so rates would stay relatively low, according to a second person familiar with the discussion.&nbsp

Cashing in after years in public service is a well-trodden path for policymakers and regulators, highlighting the demand among investors for any exclusive insights they can offer.&nbsp

In the case of former Fed chiefs, who can earn an annual salary in one night and have no constraints on expressing their views provided they do not broach confidential matters, those insights could potentially move markets.&nbsp

Yellen's predecessor Ben Bernanke waited just over a month after leaving the Fed in 2014 before earning some $250,000 for a private talk in Abu Dhabi. He followed that up with similarly-priced private dinners with investors in New York, at which he predicted rates would remain low for a long time.&nbsp

Former Fed Chair Alan Greenspan waited only a week after stepping down before addressing a private dinner in 2006 hosted by Lehman Brothers, the investment bank whose collapse two years later sent the global financial crisis into high gear.&nbsp

Under Yellen, who earned just more than $200,000 per year as chair, the Fed finally turned the corner from its crisis-era policies of near-zero interest rates and trillions of dollars of bond-buying.

At Monday's larger forum for Jefferies clients, she expressed the view that three or four rate rises were likely this year, and that recent US tax cuts and a boost in government spending posed at least some risk of running the economy hot, according to the first source, who requested anonymity.&nbsp

Reuters was not able to reach David Zervos, the Jefferies Group LLC chief strategist who conducted the forum and who later tweeted a link to a photograph of him with a smiling Yellen on Instagram.&nbsp

"An amazing evening last night hosting Janet Yellen for our clients in NY," read the tweet, posted Tuesday.&nbsp

The Fed raised rates last month at its first meeting under Powell, and forecasts showed policymakers were split between three or four total hikes this year as economic growth and inflation were seen rising.&nbsp

Yellen joined the Brookings Institution think tank immediately after stepping down and spoke publicly there in February about the economy. Last month she discussed her Fed tenure at the University of Pennsylvania.&nbsp

In recent months she was listed as a speaker-for-hire by the Washington Speakers Bureau, which did not immediately respond to a request for comment. 
&nbsp 
Her profile page, alongside that of Bernanke and Greenspan, says she travels from Washington and fees vary based on event location.&nbsp

One source familiar with the event told it was her first such engagement since leaving the Fed

Janet Yellen visited Wall Street for a paid appearance two months after stepping down as Fed chair, discussing the economy and interest rates at an event hosted by investment bank Jefferies that included a sit-down dinner for forty. In a short telephone interview, Yellen, who ran the US Federal Reserve the last four years until early February, said she revealed no confidential information at Monday's gathering, put on by Jefferies CEO Richard Handler. One source familiar with the event told it was her first such engagement since leaving the Fed. "I talked about the economy and general perspectives on monetary policy," Yellen said late on Wednesday. She said she was paid but declined to say how much, and did not provide details. The program included a question-and-answer session with more than 100 Jefferies clients, where according to the source she stuck close to the gradual rate-hike message that her successor, Jerome Powell, has also delivered since taking charge. Later, over dinner at the Manhattan penthouse of Jefferies' chief executive, Yellen told executives from hedge funds, private equity firms and other companies that she considered inflation to be in check and unlikely to spike, so rates would stay relatively low, according to a second person familiar with the discussion. Cashing in after years in public service is a well-trodden path for policymakers and regulators, highlighting the demand among investors for any exclusive insights they can offer. In the case of former Fed chiefs, who can earn an annual salary in one night and have no constraints on expressing their views provided they do not broach confidential matters, those insights could potentially move markets. Yellen's predecessor Ben Bernanke waited just over a month after leaving the Fed in 2014 before earning some $250,000 for a private talk in Abu Dhabi. He followed that up with similarly-priced private dinners with investors in New York, at which he predicted rates would remain low for a long time. Former Fed Chair Alan Greenspan waited only a week after stepping down before addressing a private dinner in 2006 hosted by Lehman Brothers, the investment bank whose collapse two years later sent the global financial crisis into high gear. Under Yellen, who earned just more than $200,000 per year as chair, the Fed finally turned the corner from its crisis-era policies of near-zero interest rates and trillions of dollars of bond-buying. At Monday's larger forum for Jefferies clients, she expressed the view that three or four rate rises were likely this year, and that recent US tax cuts and a boost in government spending posed at least some risk of running the economy hot, according to the first source, who requested anonymity. Reuters was not able to reach David Zervos, the Jefferies Group LLC chief strategist who conducted the forum and who later tweeted a link to a photograph of him with a smiling Yellen on Instagram. "An amazing evening last night hosting Janet Yellen for our clients in NY," read the tweet, posted Tuesday. The Fed raised rates last month at its first meeting under Powell, and forecasts showed policymakers were split between three or four total hikes this year as economic growth and inflation were seen rising. Yellen joined the Brookings Institution think tank immediately after stepping down and spoke publicly there in February about the economy. Last month she discussed her Fed tenure at the University of Pennsylvania. In recent months she was listed as a speaker-for-hire by the Washington Speakers Bureau, which did not immediately respond to a request for comment. Her profile page, alongside that of Bernanke and Greenspan, says she travels from Washington and fees vary based on event location.

Yellen gets post-Fed payday in private meetings with Wall Street elite

Earlier this week, we came across Ms. Bhattacharyya&#39;s emotionally charged essay, &#39;Why an Indian girl chose to become an American woman&#39; (published in Quartz) on her challenging journey to become a naturalised American citizen. She describes the alienation and disaffection she felt from her home country and how this largely stemmed from the fact that India had failed its women (and by extension her) due to the widespread sexual violence within our society. Finally, this disaffection led her to pursue a strategy of extending her stay in the United States (or literally anywhere else) in an attempt to escape the horrifically morbid fate Indian women are preordained. While we largely share her concerns about widespread violence against women, we find her characterisation of India&#39;s society misinformed, laced with generalities and therefore incredibly problematic.

As Indians studying and working in the United States, we are confronted by a similar array of choices as Ms. Bhattacharyya. The US is inarguably a melting pot of diversity - a country that prides itself as the land of immigrants; attracting the best and brightest from every corner of the world. And yet, this fantastical &#39;land of the free&#39; too suffers its own set of major issues ranging from mass gun violence to racism. The insidious culture of sexual harassment and assault is ubiquitous in the US too, spanning Wall Street, Hollywood and college campuses across the country. It is misleading to suggest that a woman can leave her house and drive for a 100 miles without a single care in the world. If one is to believe economist Amartya Sen, even if we multiply the instances of reported rape by 10 (to account for underreporting), estimates of its occurrence would still be substantially lower than in the UK, US, Sweden or South Africa.

The fight for gender inequality and violence against women has miles to go in India as it does in the rest of the world, but despair and a defeatist attitude is not the way to win any battle, least of all this one. In her essay, Bhattacharyya laments that even change would be unable to undo the damage done by our history of oppression. It seems as if she hasn&#39;t examined the history of the very country she holds in such high regards. If India has a history for regressive practices, Western history is also replete with similar repression of women&#39;s rights right up to the early twentieth century. It was only after a long struggle that women were able to win the right to vote. And yet, if, as the writer herself argues, she feels safe enough to drive across the country at 3am, it is clear that things have changed. India on the other hand, being a relatively younger democracy and several years behind the United States in economic development cannot be dismissed as incapable of change or progress. We may be the world&#39;s &#39;smelliest&#39; and most &#39;interesting&#39; melting pot as frivolously put by Ms Bhattacharyya, but at least we broke the glass ceiling long before any of us even called it that with the reign of Indira Gandhi. As of 2018, this feat is yet to be accomplished by the world&#39;s oldest democracy, a country where she feels safer and more empowered in.

The inscrutable Americans-esque analysis of her personal experience in the United States of feeling &#39;poor&#39; and like an &#39;outsider&#39; goes against the very spirit of why we moved to the US - a country that thrives on its immigrants&#39; confidence and relentless will to stand out. She not only perpetuates the Indian stereotype of being secondary in America, but also reaffirms the superiority of someone up in the West determining just how hipster you had to be to be considered cool, or how much of your intellectual prowess authors like Hegel determine. While it may make for a catchy statement to call India a country that doesn&#39;t know what to do with its women, it&#39;s utterly careless to do so because of how dangerously wrong this narrative is. For starters, the Indian government through one of its landmark schemes MUDRA Yojana, provides small businesses across the country with seed capital in the form of loans, and almost 75 per cent of its beneficiaries are female entrepreneurs, thereby not making India a country that &quot;doesn&#39;t know what to do with its women&quot; as claimed by Ms. Bhattacharya. We are also the first country in the region to have a purely women-led railway station in Rajasthan affirming public female confidence in a state that is traditionally known for nothing but its textiles and rates of child marriage. Further initiatives to boost women participation have also been kickstarted by the private sector. While there are several challenges we need to scale in order to become the country we deserve to be, we are eternally optimistic about our ability to surmount them.

The overall comparison of a global super power with one of the oldest civilisations in the world is not only irresponsible but also blatantly ignorant. Our nation stands at the cusp of awakening and ever growing polarisation, much like the United States. We use our rather fantastical, emotionally charged and inspiring films to inculcate a culture of openness and make big budget movies about periods, homosexuality, and religious tolerance. In her 70 young years, India has kept one finger on the pulse of social change. The transactional approach she has adopted when assessing her loyalty to any country, be it the United States or India, is disheartening and just the kind of spirit a nation that thrives on unconditional patriotism-fueled progress does not need. As Indians living in the United States, the only parting advice we can give her is to continue texting friends and family while being out and about on American streets at 3 in the morning; for these roads too are rife with thorns, some much sharper than the ones in India.

(Mansi has written the piece along with her fellow NYU graduate Abhishek Dalal)

(Disclaimer: The opinions expressed above are the personal views of the authors and do not reflect the views of ZMCL)

The insidious culture of sexual harassment and assault is ubiquitous in the US too, spanning Wall Street, Hollywood and college campuses across the country.

Earlier this week, we came across Ms. Bhattacharyya's emotionally charged essay, 'Why an Indian girl chose to become an American woman' (published in Quartz) on her challenging journey to become a naturalised American citizen. She describes the alienation and disaffection she felt from her home country and how this largely stemmed from the fact that India had failed its women (and by extension her) due to the widespread sexual violence within our society. Finally, this disaffection led her to pursue a strategy of extending her stay in the United States (or literally anywhere else) in an attempt to escape the horrifically morbid fate Indian women are preordained. While we largely share her concerns about widespread violence against women, we find her characterisation of India's society misinformed, laced with generalities and therefore incredibly problematic. As Indians studying and working in the United States, we are confronted by a similar array of choices as Ms. Bhattacharyya. The US is inarguably a melting pot of diversity - a country that prides itself as the land of immigrants; attracting the best and brightest from every corner of the world. And yet, this fantastical 'land of the free' too suffers its own set of major issues ranging from mass gun violence to racism. The insidious culture of sexual harassment and assault is ubiquitous in the US too, spanning Wall Street, Hollywood and college campuses across the country. It is misleading to suggest that a woman can leave her house and drive for a 100 miles without a single care in the world. If one is to believe economist Amartya Sen, even if we multiply the instances of reported rape by 10 (to account for underreporting), estimates of its occurrence would still be substantially lower than in the UK, US, Sweden or South Africa. The fight for gender inequality and violence against women has miles to go in India as it does in the rest of the world, but despair and a defeatist attitude is not the way to win any battle, least of all this one. In her essay, Bhattacharyya laments that even change would be unable to undo the damage done by our history of oppression. It seems as if she hasn't examined the history of the very country she holds in such high regards. If India has a history for regressive practices, Western history is also replete with similar repression of women's rights right up to the early twentieth century. It was only after a long struggle that women were able to win the right to vote. And yet, if, as the writer herself argues, she feels safe enough to drive across the country at 3am, it is clear that things have changed. India on the other hand, being a relatively younger democracy and several years behind the United States in economic development cannot be dismissed as incapable of change or progress. We may be the world's 'smelliest' and most 'interesting' melting pot as frivolously put by Ms Bhattacharyya, but at least we broke the glass ceiling long before any of us even called it that with the reign of Indira Gandhi. As of 2018, this feat is yet to be accomplished by the world's oldest democracy, a country where she feels safer and more empowered in. The inscrutable Americans-esque analysis of her personal experience in the United States of feeling 'poor' and like an 'outsider' goes against the very spirit of why we moved to the US - a country that thrives on its immigrants' confidence and relentless will to stand out. She not only perpetuates the Indian stereotype of being secondary in America, but also reaffirms the superiority of someone up in the West determining just how hipster you had to be to be considered cool, or how much of your intellectual prowess authors like Hegel determine. While it may make for a catchy statement to call India a country that doesn't know what to do with its women, it's utterly careless to do so because of how dangerously wrong this narrative is. For starters, the Indian government through one of its landmark schemes MUDRA Yojana, provides small businesses across the country with seed capital in the form of loans, and almost 75 per cent of its beneficiaries are female entrepreneurs, thereby not making India a country that "doesn't know what to do with its women" as claimed by Ms. Bhattacharya. We are also the first country in the region to have a purely women-led railway station in Rajasthan affirming public female confidence in a state that is traditionally known for nothing but its textiles and rates of child marriage. Further initiatives to boost women participation have also been kickstarted by the private sector. While there are several challenges we need to scale in order to become the country we deserve to be, we are eternally optimistic about our ability to surmount them. The overall comparison of a global super power with one of the oldest civilisations in the world is not only irresponsible but also blatantly ignorant. Our nation stands at the cusp of awakening and ever growing polarisation, much like the United States. We use our rather fantastical, emotionally charged and inspiring films to inculcate a culture of openness and make big budget movies about periods, homosexuality, and religious tolerance. In her 70 young years, India has kept one finger on the pulse of social change. The transactional approach she has adopted when assessing her loyalty to any country, be it the United States or India, is disheartening and just the kind of spirit a nation that thrives on unconditional patriotism-fueled progress does not need. As Indians living in the United States, the only parting advice we can give her is to continue texting friends and family while being out and about on American streets at 3 in the morning; for these roads too are rife with thorns, some much sharper than the ones in India. (Mansi has written the piece along with her fellow NYU graduate Abhishek Dalal) (Disclaimer: The opinions expressed above are the personal views of the authors and do not reflect the views of ZMCL)

Opinion: India hasn't failed you, you failed India

The benchmark BSE Sensex drifted <a href="http://www.wionews.com/business-economy/money-market-rupee-opens-higher-against-dollar-35751">150 points lower and the NSE Nifty</a> slipped below the 10,400-mark in early deals today on selling in metal, PSU and realty counters amid weak global cues.

Asian stocks declined following an overnight slide in US equities after President Donald Trump replaced his Secretary of State Rex Tillerson with CIA Director Mike Pompeo, extending a shake-up of his administration, spurring concerns about a one-sided approach to international trade.

The 30-share index dropped 166.17 points or 0.49 per cent to 33,690.61. The gauge had lost 61.16 points in the previous session.

Similarly, the NSE Nifty fell 37.90 points or 0.36 per cent to 10,388.95.

Sectoral indices led by metal, PSU, realty, oil &amp; gas, auto, power and bank stocks were trading in the negative zone, falling up to 0.87 per cent.

Banking shares such as SBI, ICICI Bank, Axis Bank, Bank of India, Yes Bank, Andhra Bank and Canara Bank also declined up to 2.30 per cent.

However, TCS, Infosys, Maruti Suzuki, Dr Reddy&#39;s, L&amp;T and Asian Paints trading in the green, gaining up to 0.74 per cent.

PNB stocks fell 4.23 per cent to Rs 93.85 after reports that the bank&#39;s exposure to alleged fraud may be over $2 billion.

Shares of Gitanjali Gems cracked 4.90 per cent to Rs 13.60 after National Stock Exchange (NSE) levied penalty on the company for failure to file financial results for quarter-ended 31 December.

Brokers said that the sentiment remained negative on weak trend in other Asian markets following a drop in Wall Street as US President Donald Trump replaced his secretary of state, and plans to impose new tariffs on China.

Meanwhile, on a net basis, domestic institutional investors (DIIs) bought shares worth Rs 1,613.39 crore while foreign portfolio investors (FPIs) also bought shares worth Rs 7,028.42 crore yesterday, provisional data showed.

In the Asian region, Japan&#39;s Nikkei fell 1.03 per cent, Hong Kong&#39;s Hang Seng shed 1.18 per cent in early trade. China&#39;s Shanghai Composite index too down 0.46 per cent.

NSE Nifty fell 37.90 points or 0.36 per cent to 10,388.95

The benchmark BSE Sensex drifted 150 points lower and the NSE Nifty slipped below the 10,400-mark in early deals today on selling in metal, PSU and realty counters amid weak global cues. Asian stocks declined following an overnight slide in US equities after President Donald Trump replaced his Secretary of State Rex Tillerson with CIA Director Mike Pompeo, extending a shake-up of his administration, spurring concerns about a one-sided approach to international trade. The 30-share index dropped 166.17 points or 0.49 per cent to 33,690.61. The gauge had lost 61.16 points in the previous session. Similarly, the NSE Nifty fell 37.90 points or 0.36 per cent to 10,388.95. Sectoral indices led by metal, PSU, realty, oil & gas, auto, power and bank stocks were trading in the negative zone, falling up to 0.87 per cent. Banking shares such as SBI, ICICI Bank, Axis Bank, Bank of India, Yes Bank, Andhra Bank and Canara Bank also declined up to 2.30 per cent. However, TCS, Infosys, Maruti Suzuki, Dr Reddy's, L&T and Asian Paints trading in the green, gaining up to 0.74 per cent. PNB stocks fell 4.23 per cent to Rs 93.85 after reports that the bank's exposure to alleged fraud may be over $2 billion. Shares of Gitanjali Gems cracked 4.90 per cent to Rs 13.60 after National Stock Exchange (NSE) levied penalty on the company for failure to file financial results for quarter-ended 31 December. Brokers said that the sentiment remained negative on weak trend in other Asian markets following a drop in Wall Street as US President Donald Trump replaced his secretary of state, and plans to impose new tariffs on China. Meanwhile, on a net basis, domestic institutional investors (DIIs) bought shares worth Rs 1,613.39 crore while foreign portfolio investors (FPIs) also bought shares worth Rs 7,028.42 crore yesterday, provisional data showed. In the Asian region, Japan's Nikkei fell 1.03 per cent, Hong Kong's Hang Seng shed 1.18 per cent in early trade. China's Shanghai Composite index too down 0.46 per cent.

Sensex, Nifty fall in early trade

In a heavy blow to the financial markets worldwide on Thursday, the US president Donald Trump increased the tariff up to 25 percent on the steel exports, which is expected to impact the South Korean manufacturers of steel.

While addressing a meeting with the business executives at the White House, he further intended to impose 10 percent tariff on the aluminium imports within the next week.This announcement impacted the stock markets as the equity indices recorded a steep flow.

At the close of trading in New York, the S&amp;P 500 had fallen 1.3 percent and the Dow Jones Industrial Average was off 1.7 percent.

This move of the Trump government has been opposed by the European Union and is further mooted to be in favour of the trade policies of US.Donald Trump is taken this step as part of national security investigation that allows him to invoke a loophole in the international trade rules enabling countries to impose trade restrictions during the war times.&nbsp;

At the close of trading in New York, the S&P 500 had fallen 1.3 percent and the Dow Jones Industrial Average was off 1.7 percent.

In a heavy blow to the financial markets worldwide on Thursday, the US president Donald Trump increased the tariff up to 25 percent on the steel exports, which is expected to impact the South Korean manufacturers of steel. While addressing a meeting with the business executives at the White House, he further intended to impose 10 percent tariff on the aluminium imports within the next week.This announcement impacted the stock markets as the equity indices recorded a steep flow. At the close of trading in New York, the S&P 500 had fallen 1.3 percent and the Dow Jones Industrial Average was off 1.7 percent. This move of the Trump government has been opposed by the European Union and is further mooted to be in favour of the trade policies of US.Donald Trump is taken this step as part of national security investigation that allows him to invoke a loophole in the international trade rules enabling countries to impose trade restrictions during the war times.

US: Stock Exchange tumbles after steel tariff announcement

The BSE Sensex dropped by over 137 points or 0.40 per cent to close at 34,046.94 today to extend losses for the third day in a row as fiscal deficit worries and global sell-off triggered by US Fed rate hike fears continued to unsettle investors despite positive macro data.

Banking stocks, particularly state-run lenders were among the biggest laggards on unabated nervous off-loading by participants amid growing concerns over a spate of fraud cases.

Select auto stocks, however, were in some demand on the back of encouraging February sales numbers.

The 30-share benchmark opened higher and scaled a high of 34,278.63 in early deals after positive GDP data for the third quarter. According to the official data released after market hours yesterday, the GDP growth rate rose to a five-quarter high growth of 7.2 per cent in the October-December quarter on good showing by key sectors like manufacturing.

The core sector growth rate also picked up momentum to touch 6.2 per cent in January.

Stocks however slipped into the negative zone with the BSE Sensex touching a low of 34,015.79 due to continued selling in global markets.

The 30-share barometer settled at 34,046.94, down 137.10 points, or 0.40 per cent as its 20 constituents led by ICICI Bank and SBI ended in the red.

The 50-issue NSE Nifty too lost 34.50 points, or 0.33 at 10,458.35 after shuttling between 10,525.50 and 10,447.15.

For the week, the flagship Sensex recorded a fall of 95.21 points, or 0.27 per cent, while the NSE Nifty lost 32.70 points, or 0.31 per cent.

&quot;Markets traded dull and ended lower amid mixed local cues. Initially, participants took note of encouraging GDP figure and uptick in core sector data, which helped index to open higher despite weak global markets. However, further widening of fiscal deficit also dampened the sentiment to some extent and capped upside,&quot; said Jayant Manglik, President, Religare Broking Ltd.

Official data showed that fiscal deficit touched Rs 6.77 lakh crore at the end of January, 113.7 per cent of the target for the entire fiscal, on account of higher expenditure.

Analyst said the market was in &quot;sell on rise&quot; phase as investors preferred to book profits amid global uncertainty.

Asian markets broadly closed with losses, extending a global sell-off on US interest rate hike fears. US Fed chief Jerome Powell who painted a rosy picture about the US economy and hinted at future rate hikes before the Congress was set to speak on Capitol Hill again today.

In the sectoral terms, the BSE metal index fell by 0.95 per cent, bankex (0.85 per cent), realty (0.77 per cent), consumer durables (0.71 per cent), teck (0.65 per cent), healthcare (0.58 per cent), IT (0.53 per cent), power (0.48 per cent) and PSU (0.43 per cent).

In the Sensex pack, ICICI Bank suffered the most by 2.63 per cent, followed by country&#39;s largest state-run SBI 2.31 per cent.

Other laggards include Infosys, Power Grid, HDFC Bank, ITC Ltd, Axis Bank, RIL, Hero MotoCorp, Yes Bank, L&amp;T, Dr Reddy&#39;s, Adani Ports, Sun Pharma, NTPC, TCS an HDFC Ltd, falling up to 1.19 per cent.

In contrast, Coal India, IndusInd Bank, Hindustan Unilever, M&amp;M, Kotak Bank, ONGC, Tata Steel, Tata Motors and Maruti Suzui managed to end in the positive terrain and cushioned the fall.

The broader markets too were under selling pressure from investors with the BSE mid-cap index falling by 0.61 per cent, while small-cap index lost 0.24 per cent.

Globally, Japan&#39;s Nikkei fell 1.56 per cent, while Singapore shed 0.24 per cent. Shanghai Composite Index, however, was up 0.44 per cent and Hong Kong&#39;s Hang Seng rose 0.65 per cent.

In Europe, Frankfurt&#39;s DAX 30 fell 0.50 per cent, while Paris CAC 40 down 0.25 per cent in their early deals. London&#39;s FTSE too fell 0.18 per cent.&nbsp;

&nbsp;

&nbsp;

&nbsp;

The benchmark Sensex closed down 0.40 per cent at 34,046.94

The BSE Sensex dropped by over 137 points or 0.40 per cent to close at 34,046.94 today to extend losses for the third day in a row as fiscal deficit worries and global sell-off triggered by US Fed rate hike fears continued to unsettle investors despite positive macro data. Banking stocks, particularly state-run lenders were among the biggest laggards on unabated nervous off-loading by participants amid growing concerns over a spate of fraud cases. Select auto stocks, however, were in some demand on the back of encouraging February sales numbers. The 30-share benchmark opened higher and scaled a high of 34,278.63 in early deals after positive GDP data for the third quarter. According to the official data released after market hours yesterday, the GDP growth rate rose to a five-quarter high growth of 7.2 per cent in the October-December quarter on good showing by key sectors like manufacturing. The core sector growth rate also picked up momentum to touch 6.2 per cent in January. Stocks however slipped into the negative zone with the BSE Sensex touching a low of 34,015.79 due to continued selling in global markets. The 30-share barometer settled at 34,046.94, down 137.10 points, or 0.40 per cent as its 20 constituents led by ICICI Bank and SBI ended in the red. The 50-issue NSE Nifty too lost 34.50 points, or 0.33 at 10,458.35 after shuttling between 10,525.50 and 10,447.15. For the week, the flagship Sensex recorded a fall of 95.21 points, or 0.27 per cent, while the NSE Nifty lost 32.70 points, or 0.31 per cent. "Markets traded dull and ended lower amid mixed local cues. Initially, participants took note of encouraging GDP figure and uptick in core sector data, which helped index to open higher despite weak global markets. However, further widening of fiscal deficit also dampened the sentiment to some extent and capped upside," said Jayant Manglik, President, Religare Broking Ltd. Official data showed that fiscal deficit touched Rs 6.77 lakh crore at the end of January, 113.7 per cent of the target for the entire fiscal, on account of higher expenditure. Analyst said the market was in "sell on rise" phase as investors preferred to book profits amid global uncertainty. Asian markets broadly closed with losses, extending a global sell-off on US interest rate hike fears. US Fed chief Jerome Powell who painted a rosy picture about the US economy and hinted at future rate hikes before the Congress was set to speak on Capitol Hill again today. In the sectoral terms, the BSE metal index fell by 0.95 per cent, bankex (0.85 per cent), realty (0.77 per cent), consumer durables (0.71 per cent), teck (0.65 per cent), healthcare (0.58 per cent), IT (0.53 per cent), power (0.48 per cent) and PSU (0.43 per cent). In the Sensex pack, ICICI Bank suffered the most by 2.63 per cent, followed by country's largest state-run SBI 2.31 per cent. Other laggards include Infosys, Power Grid, HDFC Bank, ITC Ltd, Axis Bank, RIL, Hero MotoCorp, Yes Bank, L&T, Dr Reddy's, Adani Ports, Sun Pharma, NTPC, TCS an HDFC Ltd, falling up to 1.19 per cent. In contrast, Coal India, IndusInd Bank, Hindustan Unilever, M&M, Kotak Bank, ONGC, Tata Steel, Tata Motors and Maruti Suzui managed to end in the positive terrain and cushioned the fall. The broader markets too were under selling pressure from investors with the BSE mid-cap index falling by 0.61 per cent, while small-cap index lost 0.24 per cent. Globally, Japan's Nikkei fell 1.56 per cent, while Singapore shed 0.24 per cent. Shanghai Composite Index, however, was up 0.44 per cent and Hong Kong's Hang Seng rose 0.65 per cent. In Europe, Frankfurt's DAX 30 fell 0.50 per cent, while Paris CAC 40 down 0.25 per cent in their early deals. London's FTSE too fell 0.18 per cent.

Sensex, Nifty fall despite GDP upswing

The Sensex and Nifty fell for a second straight session on Wednesday with financials leading the decline, as fears of faster interest rate hikes in the United States hurt investor risk appetite.

The Nifty closed below 10,500 for the seventh time in nine sessions, ending 0.58 per cent lower at 10,492.85.

The Sensex closed down 0.47 per cent at 34,184.04.

Investors now await October-December gross domestic product data due later in the day for clues about the domestic economy.

The Sensex closed down 0.47 per cent at 34,184.04.

The Sensex and Nifty fell for a second straight session on Wednesday with financials leading the decline, as fears of faster interest rate hikes in the United States hurt investor risk appetite. The Nifty closed below 10,500 for the seventh time in nine sessions, ending 0.58 per cent lower at 10,492.85. The Sensex closed down 0.47 per cent at 34,184.04. Investors now await October-December gross domestic product data due later in the day for clues about the domestic economy.

Sensex, Nifty down over global cues

Sensex and Nifty closed on a high due to gains in global equities, as investors bought shares of recent underperformers such as pharma and financials.

The BSE&nbsp;Sensex jumped 322.65 points to close at 34,142.15 ending 0.39 per cent higher for the week.&nbsp;

Nifty rose 108.35 pts to 10,491.05 gaining 0.37 per cent.

In addition, the rupee rising to to 64.76 against the US dollar (intra-day) and sustained pumping of funds by DIIs also supported the recovery.

The Sensex hit the session&#39;s high of 34,167.60, but finally, the gauge settled higher by 322.65 points, or 0.95 per cent, at 34,142.15, a level last seen on February 15.

The index had shed 25.36 points in the previous session.

The broader NSE Nifty also stayed in the positive zone and touched a high of 10,499.10 before closing 108.35 points, or 1.04 per cent, higher at 10,491.05.

For the week, the Sensex recorded 131.39 points, or 0.38 per cent; while Nifty gained 38.75 points, or 0.37 per cent.

Sensex jumped 322.65 points to close at 34,142.15

Sensex and Nifty closed on a high due to gains in global equities, as investors bought shares of recent underperformers such as pharma and financials. The BSE Sensex jumped 322.65 points to close at 34,142.15 ending 0.39 per cent higher for the week. Nifty rose 108.35 pts to 10,491.05 gaining 0.37 per cent. In addition, the rupee rising to to 64.76 against the US dollar (intra-day) and sustained pumping of funds by DIIs also supported the recovery. The Sensex hit the session's high of 34,167.60, but finally, the gauge settled higher by 322.65 points, or 0.95 per cent, at 34,142.15, a level last seen on February 15. The index had shed 25.36 points in the previous session. The broader NSE Nifty also stayed in the positive zone and touched a high of 10,499.10 before closing 108.35 points, or 1.04 per cent, higher at 10,491.05. For the week, the Sensex recorded 131.39 points, or 0.38 per cent; while Nifty gained 38.75 points, or 0.37 per cent.

Sensex, Nifty close on a high

The BSE benchmark <a href="http://www.wionews.com/business-economy/rupee-at-2-week-high-in-opening-trade-32928">Sensex surged over 167 points</a>, staging a strong recovery in early trade today on firm cues from global markets.

A stronger rupee against the dollar also influenced market sentiment.

The 30-share index was trading higher by 167.12 points, or 0.48 per cent, at 34,323.07. The gauge had lost 144.52 points in the previous session.&nbsp;The NSE Nifty gained 47.45 points, or 0.45 per cent, to 10.548.35.

Widespread buying was seen in metal, healthcare and realty counters. Major gainers were Adani ports, HDFC, ICICI Bank, SBI, Dr Reddy&#39;s, Tata Motors, Yes Bank, Reliance Industries and Maruti Suzuki, rising up to 2.17 per cent.

Punjab National Bank dropped sharply by 8.47 per cent following the Rs 11,400 crore scam at one of its Mumbai branches.

Gitanjali Gems plunged nearly 19 per cent on reports over its involvement in the PNB fraud case.

Brokers said a firm trend at other Asian markets boosted investor sentiment, following overnight gains on Wall Street as investors shrugged off stronger-than-expected inflation data.

Meanwhile, Hong Kong&#39;s Hang Seng was up 1.69 per cent and Shanghai Composite Index by rose 0.45 per cent in early trade. Japan&#39;s Nikkei also gained 1.33 per cent. The US Dow Jones Industrial Average ended 1.03 per cent higher yesterday.

The 30-share index was trading higher by 167.12 points, or 0.48 per cent, at 34,323.07

The BSE benchmark Sensex surged over 167 points, staging a strong recovery in early trade today on firm cues from global markets. A stronger rupee against the dollar also influenced market sentiment. The 30-share index was trading higher by 167.12 points, or 0.48 per cent, at 34,323.07. The gauge had lost 144.52 points in the previous session. The NSE Nifty gained 47.45 points, or 0.45 per cent, to 10.548.35. Widespread buying was seen in metal, healthcare and realty counters. Major gainers were Adani ports, HDFC, ICICI Bank, SBI, Dr Reddy's, Tata Motors, Yes Bank, Reliance Industries and Maruti Suzuki, rising up to 2.17 per cent. Punjab National Bank dropped sharply by 8.47 per cent following the Rs 11,400 crore scam at one of its Mumbai branches. Gitanjali Gems plunged nearly 19 per cent on reports over its involvement in the PNB fraud case. Brokers said a firm trend at other Asian markets boosted investor sentiment, following overnight gains on Wall Street as investors shrugged off stronger-than-expected inflation data. Meanwhile, Hong Kong's Hang Seng was up 1.69 per cent and Shanghai Composite Index by rose 0.45 per cent in early trade. Japan's Nikkei also gained 1.33 per cent. The US Dow Jones Industrial Average ended 1.03 per cent higher yesterday.

Sensex rises 167 points in early trade

The benchmark BSE Sensex gained 173 points to 34,473.43 in early trade today, rising for the second straight session on back of positive macroeconomic data and sustained buying by domestic institutional investors (DIIs) amid appreciating rupee.

 
Besides, a mixed trend in other Asian markets following positive lead from Wall Street buoyed sentiment here.

 
The 30-share barometer rose 172.96 points, or 0.50 per cent, to 34,473.43 in opening session. All sectoral indices were trading in the green, with realty, metal, capital goods and oil &amp; gas rising up to 1.65 per cent.&nbsp;The NSE index Nifty climbed 41.50 points, or 0.39 per cent, to 10,581.25.

 
Brokers said buying picked up on positive economic data. Industrial output grew by 7.1 per cent in December and retail inflation eased in January to 5.07 per cent.

 
DIIs bought shares worth Rs 1,342.70 crore on net basis, while foreign portfolio investors (FPIs) sold shares worth Rs 814.11 crore on net basis on Monday, provisional data showed.

 
Major gainers were Bharti Airtel, HDFC, Adani Ports, Wipro, RIL, Dr Reddy&#39;s, L&amp;T, HDFC Bank, Infosys, Tata Steel, M&amp;M, Yes Bank and Coal India, gaining up to 1.92 per cent.

 
Among other Asian markets, Hong Kong&#39;s Hang Seng was up 0.73 per cent and Singapore edged up 0.05 per cent, while Japan&#39;s Nikkei fell 0.64 per cent and China&#39;s Shanghai Composite index slipped 0.32 per cent.

 
The US Dow Jones Industrial Average, however, closed 0.16 per cent higher in yesterday&#39;s trade.

The 30-share barometer rose 172.96 points, or 0.50 per cent, to 34,473.43 in opening session

The benchmark BSE Sensex gained 173 points to 34,473.43 in early trade today, rising for the second straight session on back of positive macroeconomic data and sustained buying by domestic institutional investors (DIIs) amid appreciating rupee. Besides, a mixed trend in other Asian markets following positive lead from Wall Street buoyed sentiment here. The 30-share barometer rose 172.96 points, or 0.50 per cent, to 34,473.43 in opening session. All sectoral indices were trading in the green, with realty, metal, capital goods and oil & gas rising up to 1.65 per cent. The NSE index Nifty climbed 41.50 points, or 0.39 per cent, to 10,581.25. Brokers said buying picked up on positive economic data. Industrial output grew by 7.1 per cent in December and retail inflation eased in January to 5.07 per cent. DIIs bought shares worth Rs 1,342.70 crore on net basis, while foreign portfolio investors (FPIs) sold shares worth Rs 814.11 crore on net basis on Monday, provisional data showed. Major gainers were Bharti Airtel, HDFC, Adani Ports, Wipro, RIL, Dr Reddy's, L&T, HDFC Bank, Infosys, Tata Steel, M&M, Yes Bank and Coal India, gaining up to 1.92 per cent. Among other Asian markets, Hong Kong's Hang Seng was up 0.73 per cent and Singapore edged up 0.05 per cent, while Japan's Nikkei fell 0.64 per cent and China's Shanghai Composite index slipped 0.32 per cent. The US Dow Jones Industrial Average, however, closed 0.16 per cent higher in yesterday's trade.

Sensex extends rally, rises 173 points in opening trade

Stocks staged a strong comeback in early trade with the BSE Sensex gaining over 260 points and the Nifty recapturing the 10,500-level on continued buying by domestic funds ahead of inflation data to be released after market hours today.

Asian markets were also trading in the green after a late-day rally on Wall Street on Friday.

The 30-share Sensex recovered by 260.12 points, or 0.76 per cent, to 34,265.88 in opening trade. The index had lost 407.40 points or 1.18 per cent to settle at one month low of 34,005.76 on Friday.

All the sectoral indices led by metal, realty and infrastructure were trading in the green with gains up to 1.44 per cent.

The broad-based NSE Nifty went up by 81.65 points or 0.78 per cent to 10,536.60.

Major gainers were ONGC, Tata Steel, Sun Pharma, Bharti Airtel, Adani Ports, L&amp;T, HeromotoCorp and Axis Bank.

Larsen and Toubro rose by 1 per cent after it announced a Rs 2,200 crore order win by its wholly-owned arm L&amp;T Hydrocarbon Engineering from Abu Dhabi-based Al Dhafra Petroleum Operations Company Limited.

SBI, however, dropped 2.85 per cent following poor quarterly results. The PSU lender on Friday posted a net loss of Rs 1,886.57 crore after a massive under-reporting of dud assets in the past fiscal and reverses in treasury operations.

Brokers said sustained buying by domestic institutional investors amid a firm trend at other Asian bourses improved the market sentiment.

Domestic institutional investors bought shares worth a net Rs 588.42 crore while foreign portfolio investors sold shares worth a net Rs 1351.70 crore on Friday, provisional data showed.

In the Asian region, Hong Kong&#39;s Hang Seng was up 0.64 per cent and Shanghai Composite Index by 0.39 per cent in early trade. The US Dow Jones Industrial Average ended 1.38 per cent higher on Friday.

Asian markets were also trading in the green after a late-day rally on Wall Street on Friday

Stocks staged a strong comeback in early trade with the BSE Sensex gaining over 260 points and the Nifty recapturing the 10,500-level on continued buying by domestic funds ahead of inflation data to be released after market hours today. Asian markets were also trading in the green after a late-day rally on Wall Street on Friday. The 30-share Sensex recovered by 260.12 points, or 0.76 per cent, to 34,265.88 in opening trade. The index had lost 407.40 points or 1.18 per cent to settle at one month low of 34,005.76 on Friday. All the sectoral indices led by metal, realty and infrastructure were trading in the green with gains up to 1.44 per cent. The broad-based NSE Nifty went up by 81.65 points or 0.78 per cent to 10,536.60. Major gainers were ONGC, Tata Steel, Sun Pharma, Bharti Airtel, Adani Ports, L&T, HeromotoCorp and Axis Bank. Larsen and Toubro rose by 1 per cent after it announced a Rs 2,200 crore order win by its wholly-owned arm L&T Hydrocarbon Engineering from Abu Dhabi-based Al Dhafra Petroleum Operations Company Limited. SBI, however, dropped 2.85 per cent following poor quarterly results. The PSU lender on Friday posted a net loss of Rs 1,886.57 crore after a massive under-reporting of dud assets in the past fiscal and reverses in treasury operations. Brokers said sustained buying by domestic institutional investors amid a firm trend at other Asian bourses improved the market sentiment. Domestic institutional investors bought shares worth a net Rs 588.42 crore while foreign portfolio investors sold shares worth a net Rs 1351.70 crore on Friday, provisional data showed. In the Asian region, Hong Kong's Hang Seng was up 0.64 per cent and Shanghai Composite Index by 0.39 per cent in early trade. The US Dow Jones Industrial Average ended 1.38 per cent higher on Friday.

Sensex recovers 260 points, Nifty above 10,500-mark

US&nbsp;stocks ended a wild week with a burst of buying, pushing the S&amp;P 500 up 1.5 per cent on Friday, but still recorded their worst week in two years, and investors braced for more volatile trading days ahead.

The sharp falls of the week confirmed the market was in a correction, down more than 10 per cent from a January 26 record high, and throwing the nearly nine-year bull market off course. The newly volatile market was shaken in part by rising bond yields, which led stock investors to rethink their positions after months of steady gains.

The S&amp;P 500 ended the week nearly 9 per cent below the all-time high set just two weeks ago.

&ldquo;I don&#39;t see any reason to think that we&#39;re setting a pattern for next week or the rest of the year,&quot; said Rob Stein, the chief executive officer of Astor Investment Management in Chicago. &quot;The only pattern we&#39;re setting is more volatility.&quot;

On Friday alone, the S&amp;P 500 swung from gains of up to 2.2 per cent to declines of 1.9 per cent, echoing the big swings of the past week. The Dow moved in a range of more than 1,000 points, a more modest change than on Monday when the Dow fell as much as nearly 1,600 points.

The Dow Jones Industrial Average rose 330.44 points, or 1.38 per cent, to 24,190.9, the S&amp;P 500 gained 38.55 points, or 1.49 per cent, to 2,619.55, and the Nasdaq Composite added 97.33 points, or 1.44 per cent, to 6,874.49.

&nbsp;

Technology was the best-performing group on Friday, with Microsoft Corp, Alphabet Inc and Facebook Inc giving the biggest individual boosts to the S&amp;P 500. The energy was the lone major S&amp;P sector to end negative as oil prices tumbled.

The benchmark S&amp;P 500 fell 5.2 per cent for the week, its biggest weekly percentage drop since January 2016. For the week, the sector that got hammered the most was energy.

Ninety-six S&amp;P 500 stocks are down 20 per cent or more from their own one-year highs, according to Thomson Reuters data.

The sharp selloff in recent days was kicked off by concerns over rising inflation and bond yields, sparked by last week&#39;s January US&nbsp;jobs report.

&quot;You have a fundamental difference between the economy and earnings doing well, versus interest rates going up and inflation picking up, and it&rsquo;s still a question of which will dominate,&quot; said Giri Cherukuri, head trader at OakBrook Investments LLC in Lisle, Illinois.

Equities for years have looked relatively attractive compared to the low yields offered by bonds, but the rise in Treasury yields has diminished the allure of stocks, especially with stock valuations at historically expensive levels.

The yield on benchmark 10-year US&nbsp;Treasuries hovered around 2.85 per cent after touching a four-year peak of 2.885 per cent on Monday.

&ldquo;That&rsquo;s part of this recalculation that has gone on in the market: How do we factor in higher bond yields?&quot; said Willie Delwiche, investment strategist at Baird in Milwaukee. &quot;And that is a process that is playing out.&quot;

US&nbsp;fund investors sucked $23.9 billion out of the stock market in the latest week, marking the largest withdrawals from those funds on record, but bulls were still encouraged by strength in the global economy and solid U.S. corporate earnings.

Also, the percentage of Main Street investors expecting stocks to fall reached a three-month high in the American Association of Individual Investors&#39; weekly survey.

During Friday&#39;s session, the S&amp;P 500 briefly broke below its 200-day moving average, a closely watched technical level, before rising.

&quot;You will often see bounces off those levels,&quot; said Anwiti Bahuguna, senior portfolio manager at Columbia Threadneedle Investments in Boston.

The S&amp;P 500 lost $2.49 trillion in market value from Jan. 26 through Thursday, according to S&amp;P Dow Jones Indices.

Volatility remained high compared to recent months. The market&#39;s main gauge of volatility, the CBOE Volatility Index, fell 4.4 to 29.06 on Friday but was still nearly three times the average level of the past year.

In the latest day of strong trading volume, about 12 billion shares changed hands in US&nbsp;exchanges on Friday, well above the 8.5 billion daily average over the last 20 sessions. It was the first time weekly volume eclipsed 50 billion since August 2015.

Advancing issues outnumbered declining ones on the NYSE by a 1.43-to-1 ratio; on Nasdaq, a 1.36-to-1 ratio favoured advancers.

The S&amp;P 500 posted no new 52-week highs and 47 new lows; the Nasdaq Composite recorded 17 new highs and 208 new lows.

&nbsp;

Investors have braced for more volatile trading days ahead

US stocks ended a wild week with a burst of buying, pushing the S&P 500 up 1.5 per cent on Friday, but still recorded their worst week in two years, and investors braced for more volatile trading days ahead. The sharp falls of the week confirmed the market was in a correction, down more than 10 per cent from a January 26 record high, and throwing the nearly nine-year bull market off course. The newly volatile market was shaken in part by rising bond yields, which led stock investors to rethink their positions after months of steady gains. The S&P 500 ended the week nearly 9 per cent below the all-time high set just two weeks ago. “I don't see any reason to think that we're setting a pattern for next week or the rest of the year," said Rob Stein, the chief executive officer of Astor Investment Management in Chicago. "The only pattern we're setting is more volatility." On Friday alone, the S&P 500 swung from gains of up to 2.2 per cent to declines of 1.9 per cent, echoing the big swings of the past week. The Dow moved in a range of more than 1,000 points, a more modest change than on Monday when the Dow fell as much as nearly 1,600 points. The Dow Jones Industrial Average rose 330.44 points, or 1.38 per cent, to 24,190.9, the S&P 500 gained 38.55 points, or 1.49 per cent, to 2,619.55, and the Nasdaq Composite added 97.33 points, or 1.44 per cent, to 6,874.49. Technology was the best-performing group on Friday, with Microsoft Corp, Alphabet Inc and Facebook Inc giving the biggest individual boosts to the S&P 500. The energy was the lone major S&P sector to end negative as oil prices tumbled. The benchmark S&P 500 fell 5.2 per cent for the week, its biggest weekly percentage drop since January 2016. For the week, the sector that got hammered the most was energy. Ninety-six S&P 500 stocks are down 20 per cent or more from their own one-year highs, according to Thomson Reuters data. The sharp selloff in recent days was kicked off by concerns over rising inflation and bond yields, sparked by last week's January US jobs report. "You have a fundamental difference between the economy and earnings doing well, versus interest rates going up and inflation picking up, and it’s still a question of which will dominate," said Giri Cherukuri, head trader at OakBrook Investments LLC in Lisle, Illinois. Equities for years have looked relatively attractive compared to the low yields offered by bonds, but the rise in Treasury yields has diminished the allure of stocks, especially with stock valuations at historically expensive levels. The yield on benchmark 10-year US Treasuries hovered around 2.85 per cent after touching a four-year peak of 2.885 per cent on Monday. “That’s part of this recalculation that has gone on in the market: How do we factor in higher bond yields?" said Willie Delwiche, investment strategist at Baird in Milwaukee. "And that is a process that is playing out." US fund investors sucked $23.9 billion out of the stock market in the latest week, marking the largest withdrawals from those funds on record, but bulls were still encouraged by strength in the global economy and solid U.S. corporate earnings. Also, the percentage of Main Street investors expecting stocks to fall reached a three-month high in the American Association of Individual Investors' weekly survey. During Friday's session, the S&P 500 briefly broke below its 200-day moving average, a closely watched technical level, before rising. "You will often see bounces off those levels," said Anwiti Bahuguna, senior portfolio manager at Columbia Threadneedle Investments in Boston. The S&P 500 lost $2.49 trillion in market value from Jan. 26 through Thursday, according to S&P Dow Jones Indices. Volatility remained high compared to recent months. The market's main gauge of volatility, the CBOE Volatility Index, fell 4.4 to 29.06 on Friday but was still nearly three times the average level of the past year. In the latest day of strong trading volume, about 12 billion shares changed hands in US exchanges on Friday, well above the 8.5 billion daily average over the last 20 sessions. It was the first time weekly volume eclipsed 50 billion since August 2015. Advancing issues outnumbered declining ones on the NYSE by a 1.43-to-1 ratio; on Nasdaq, a 1.36-to-1 ratio favoured advancers. The S&P 500 posted no new 52-week highs and 47 new lows; the Nasdaq Composite recorded 17 new highs and 208 new lows.

Wall Street rebounds but posts worst week in two years

The bloodbath on <a href="http://www.wionews.com/business-economy/wall-street-crash-dow-jones-plunges-to-historic-low-sp-500-nasdaq-hit-31929">Wall Street continued on Thursday </a>as the Dow nosedived again going down over 1,000 points as it repeated the feat when it plunged in&nbsp;similar manner on Monday.

Dow Jones Industrial Average dived 4.2 per cent to 23,860.46.

S&amp;P 500 also took a hit sinking &nbsp;3.8 per cent to 2,581.00, while the Nasdaq Composite Index plunged 3.9 per cent to 6,777.16.

Boeing and Caterpillar lost around five per cent, with Amazon and Facebook losing ground. Several companies listed on the Dow took a similar hit.

Just like Monday&#39;s fall, markets on Thursday fell due to treasury bond with investors concerned that the US Federal Reserve may accelerate rate hikes if inflation rises suddenly.

On Monday, both the Dow and S&amp;P went down in a similar fashion as the Dow fell &nbsp;4.6 per cent in a matter of hours.

The Dow had closed &nbsp;24,345.75 ending down 1,175.21 points with the S&amp;P 500 index losing 113.19 points, or 4.10 per cent, to end at 2,648.94.

Dow Jones Industrial Average dived 4.2 per cent to 23,860.46

The bloodbath on Wall Street continued on Thursday as the Dow nosedived again going down over 1,000 points as it repeated the feat when it plunged in similar manner on Monday. Dow Jones Industrial Average dived 4.2 per cent to 23,860.46. S&P 500 also took a hit sinking 3.8 per cent to 2,581.00, while the Nasdaq Composite Index plunged 3.9 per cent to 6,777.16. Boeing and Caterpillar lost around five per cent, with Amazon and Facebook losing ground. Several companies listed on the Dow took a similar hit. Just like Monday's fall, markets on Thursday fell due to treasury bond with investors concerned that the US Federal Reserve may accelerate rate hikes if inflation rises suddenly. On Monday, both the Dow and S&P went down in a similar fashion as the Dow fell 4.6 per cent in a matter of hours. The Dow had closed 24,345.75 ending down 1,175.21 points with the S&P 500 index losing 113.19 points, or 4.10 per cent, to end at 2,648.94.

Wall Street bloodbath: Dow plunges over 1,000 points, S&P sinks

After <a href="http://www.wionews.com/business-economy/wall-street-bloodbath-dow-plunges-over-1000-points-sp-sinks-32260">Wall Streets stocks fell </a>sharply on Thursday, BSE Sensex fell over 500 points on Friday with the Nifty also falling 167 points in opening trade.

The <a href="http://www.wionews.com/business-economy/after-wall-steet-plunge-asian-stocks-fall-32269">Dow nosedived again today</a> going down over 1,000 points repeating the downfall when it plunged in similar manner on Monday.

On Tuesday the Sensex had fallen over 1,000 points.

Dow Jones Industrial Average dived 4.2 per cent to 23,860.46.

S&amp;P 500 also took a hit sinking &nbsp;3.8 per cent to 2,581.00, while the Nasdaq Composite Index plunged 3.9 per cent to 6,777.16.

Asian stocks also opened sharply lower with&nbsp;Tokyo, Hong Kong and Shanghai were among the worst hit.

The Dow nosedived again today going down over 1,000 points

After Wall Streets stocks fell sharply on Thursday, BSE Sensex fell over 500 points on Friday with the Nifty also falling 167 points in opening trade. The Dow nosedived again today going down over 1,000 points repeating the downfall when it plunged in similar manner on Monday. On Tuesday the Sensex had fallen over 1,000 points. Dow Jones Industrial Average dived 4.2 per cent to 23,860.46. S&P 500 also took a hit sinking 3.8 per cent to 2,581.00, while the Nasdaq Composite Index plunged 3.9 per cent to 6,777.16. Asian stocks also opened sharply lower with Tokyo, Hong Kong and Shanghai were among the worst hit.

After Wall Street, Sensex plunges over 500 points in opening trade

Asian trading floors <a href="http://www.wionews.com/business-economy/wall-street-bloodbath-dow-plunges-over-1000-points-sp-sinks-32260">were a sea of red once again</a> on Friday as the global rout returned with a vengeance on intensifying fears about tighter US interest rates.

Tokyo, Hong Kong and Shanghai were among the worst hit as they each plunged more than three percent, while investors piled into safe-haven assets such as gold and the yen.

The sell-off followed another battering for Wall Street, where the Dow suffered its second-heaviest daily points fall on record -- the worst coming on Monday -- after key US Treasury bond yields spiked fuelling the prospect of higher borrowing costs.

After a blistering 2017 and January, markets worldwide have gone into a spasm in the past two weeks on fears that the booming global economy and rising inflation will lead to higher interest rates.

&quot;There&rsquo;s some big-money players that have really leveraged to the low rates forever, and they have to unwind those trades,&quot; Doug Cote, chief market strategist at Voya Investment Management, told Bloomberg News. &quot;They could be in full panic mode right now.&quot;

Japan&#39;s Nikkei is now at levels not seen since mid-October, Hong Kong is on course to wipe out its 2018 gains and Shanghai is around a seven-month trough.

Elsewhere Sydney fell 1.3 percent, Singapore shed 1.6 percent and Seoul was more than two percent off. Wellington, Manila and Taipei were also being battered.

A key trigger of the recent pullback was last Friday&#39;s strong US jobs report that also showed rising US wage growth, fuelling speculation the Federal Reserve will lift rates more than the three times already expected this year.

However, many analysts are upbeat about the future owing to healthy economic conditions in the US and global economies as well as the positive outlook for corporate earnings after Donald Trump&#39;s massive tax cuts in December.

Tokyo, Hong Kong and Shanghai were among the worst hit

Asian trading floors were a sea of red once again on Friday as the global rout returned with a vengeance on intensifying fears about tighter US interest rates. Tokyo, Hong Kong and Shanghai were among the worst hit as they each plunged more than three percent, while investors piled into safe-haven assets such as gold and the yen. The sell-off followed another battering for Wall Street, where the Dow suffered its second-heaviest daily points fall on record -- the worst coming on Monday -- after key US Treasury bond yields spiked fuelling the prospect of higher borrowing costs. After a blistering 2017 and January, markets worldwide have gone into a spasm in the past two weeks on fears that the booming global economy and rising inflation will lead to higher interest rates. "There’s some big-money players that have really leveraged to the low rates forever, and they have to unwind those trades," Doug Cote, chief market strategist at Voya Investment Management, told Bloomberg News. "They could be in full panic mode right now." Japan's Nikkei is now at levels not seen since mid-October, Hong Kong is on course to wipe out its 2018 gains and Shanghai is around a seven-month trough. Elsewhere Sydney fell 1.3 percent, Singapore shed 1.6 percent and Seoul was more than two percent off. Wellington, Manila and Taipei were also being battered. A key trigger of the recent pullback was last Friday's strong US jobs report that also showed rising US wage growth, fuelling speculation the Federal Reserve will lift rates more than the three times already expected this year. However, many analysts are upbeat about the future owing to healthy economic conditions in the US and global economies as well as the positive outlook for corporate earnings after Donald Trump's massive tax cuts in December.

After Wall Steet plunge, Asian stocks fall

US&nbsp;stock markets were set to open flat to lower on Friday, putting both the S&amp;P 500 and Dow Jones Industrial Average on course for their biggest weekly losses in at least six years.

Stocks plunged 4 percent on Thursday, overturning gains a day earlier and adding to the sense that rises in US&nbsp;government bond yields have begun a major correction to nine years of almost uninterrupted gains for Wall Street.

Both the Dow Jones Industrial Average and the benchmark S&amp;P 500 index are down more than 10 per cent since hitting record highs on January 26, and Thursday was the second time this week that the Dow fell more than 1,000 points.

If the Dow ends the day lower, it is likely to make the week its worst since the height of the financial crisis in October 2008.

&quot;The fact that Monday&#39;s lows were breached signals more trouble ahead and rallies are likely to give way to rising bond yields,&quot; said Peter Cardillo, Chief market economist at First Standard Financial in New York.

By 8:06 a.m. ET (1306 GMT), Dow e-minis was down 114 points, S&amp;P 500 e-minis was down 6.25 points and Nasdaq 100 e-minis was up 17.25 points.

At the heart of the pullback has been a rise in US&nbsp;bond yields due to growing expectations that a robustly performing economy will lead to higher inflation and a steady rise in official interest rates over this year.

The danger for stock market investors is that means the Federal Reserve - and other major central banks - reining in the vast supplies of cheap funds they have pumped into the global economy since the 2008-09 financial crisis.&nbsp;

The yield on benchmark 10-year US&nbsp;Treasuries, which tends to be the driver of global borrowing costs, was hovering at 2.825 percent, dipping after US&nbsp;Congress approved a bill to end the federal shutdown, but still near a four-year high of 2.885 per cent hit during Monday&#39;s selloff.

The US&nbsp;House of Representatives early on Friday approved a bill to fund the federal government through March 23 and to increase overall spending limits over two years, sending the legislation to President Donald Trump.

Investors also point to additional pressure from the violent unwinding of trades linked to bets on volatility staying low.

The market&#39;s main gauge of volatility, the CBOE Volatility Index, was at a relatively elevated 32.25 on Friday, nearly three times what it was a week ago but lower than a two-and-a-half-year high of 50.30 points hit on Tuesday.

The downturn in equities had been long awaited by investors, after a period of strong and fast gains. The S&amp;P&#39;s correction is the fifth of this bull market, according to Yardeni Research. The last bear market was during the 2008 financial crisis.

&quot;We&#39;re cheap now, but it`s just a matter of much more cheaper we have to get to attract buyers,&quot; said Robert Pavlik, chief investment strategist at SlateStone Wealth.

World stocks were also on track for their worst week since 2011, knocked by a 4 per cent decline in Chinese stocks.&nbsp;

With Wall Street&#39;s quarterly earnings season more than half-way through, 78.3 percent of the S&amp;P 500 companies that have reported so far have beaten profit expectations, above the 72 per cent beat-rate in the past four quarters.

Chipmaker Nvidia was up about 9 per cent in premarket trading after its upbeat results and forecast.

Expedia shares sank 16 per cent after the online travel services company said costs would outpace revenue growth this year as it battles rivals for market share. 
&nbsp;

If the Dow ends the day lower, it is likely to make the week its worst

US stock markets were set to open flat to lower on Friday, putting both the S&P 500 and Dow Jones Industrial Average on course for their biggest weekly losses in at least six years. Stocks plunged 4 percent on Thursday, overturning gains a day earlier and adding to the sense that rises in US government bond yields have begun a major correction to nine years of almost uninterrupted gains for Wall Street. Both the Dow Jones Industrial Average and the benchmark S&P 500 index are down more than 10 per cent since hitting record highs on January 26, and Thursday was the second time this week that the Dow fell more than 1,000 points. If the Dow ends the day lower, it is likely to make the week its worst since the height of the financial crisis in October 2008. "The fact that Monday's lows were breached signals more trouble ahead and rallies are likely to give way to rising bond yields," said Peter Cardillo, Chief market economist at First Standard Financial in New York. By 8:06 a.m. ET (1306 GMT), Dow e-minis was down 114 points, S&P 500 e-minis was down 6.25 points and Nasdaq 100 e-minis was up 17.25 points. At the heart of the pullback has been a rise in US bond yields due to growing expectations that a robustly performing economy will lead to higher inflation and a steady rise in official interest rates over this year. The danger for stock market investors is that means the Federal Reserve - and other major central banks - reining in the vast supplies of cheap funds they have pumped into the global economy since the 2008-09 financial crisis. The yield on benchmark 10-year US Treasuries, which tends to be the driver of global borrowing costs, was hovering at 2.825 percent, dipping after US Congress approved a bill to end the federal shutdown, but still near a four-year high of 2.885 per cent hit during Monday's selloff. The US House of Representatives early on Friday approved a bill to fund the federal government through March 23 and to increase overall spending limits over two years, sending the legislation to President Donald Trump. Investors also point to additional pressure from the violent unwinding of trades linked to bets on volatility staying low. The market's main gauge of volatility, the CBOE Volatility Index, was at a relatively elevated 32.25 on Friday, nearly three times what it was a week ago but lower than a two-and-a-half-year high of 50.30 points hit on Tuesday. The downturn in equities had been long awaited by investors, after a period of strong and fast gains. The S&P's correction is the fifth of this bull market, according to Yardeni Research. The last bear market was during the 2008 financial crisis. "We're cheap now, but it`s just a matter of much more cheaper we have to get to attract buyers," said Robert Pavlik, chief investment strategist at SlateStone Wealth. World stocks were also on track for their worst week since 2011, knocked by a 4 per cent decline in Chinese stocks. With Wall Street's quarterly earnings season more than half-way through, 78.3 percent of the S&P 500 companies that have reported so far have beaten profit expectations, above the 72 per cent beat-rate in the past four quarters. Chipmaker Nvidia was up about 9 per cent in premarket trading after its upbeat results and forecast. Expedia shares sank 16 per cent after the online travel services company said costs would outpace revenue growth this year as it battles rivals for market share.

Wall Street on course for worst week in six years

Amazon.com Inc on Wednesday was on the verge of ending the day with a stock market value higher than Microsoft Corp&#39;s&nbsp;for the first time, as the online shopping behemoth weathered the recent turmoil on Wall Street.

Amazon&#39;s stock was down 1.14 percent, bringing its market capitalization to $690.4 billion, while software maker Microsoft&#39;s 1.83 percent fall depressed its market capitalization to $690.3 billion.

Bolstered by blockbuster quarterly results, Amazon&#39;s stock gained 3.8 percent over the three sessions ended Tuesday, even as Wall Street struggled through a rout that has raised fears that a nine-year bull market may be ending.

Microsoft lost about 3.1 percent over the three sessions ended Tuesday.

Amazon&#39;s market cap at points on Wednesday during intraday trade already topped that of Microsoft, but it has never closed at a higher value.

Amazon&#39;s explosive growth in retail and cloud computing has sent its shares 77 percent higher over the past year, outpacing Microsoft&#39;s 42 percent rise.&nbsp;

Apple Inc&#39;s&nbsp;$819 billion market capitalization remains Wall Street&#39;s largest, followed by Alphabet Inc, the parent of Google, at $736 billion.

Bolstered by blockbuster quarterly results, Amazon's stock gained 3.8 percent over the three sessions ended Tuesday, even as Wall Street struggled through a rout that has raised fears that a nine-year bull market may be ending.

Amazon.com Inc on Wednesday was on the verge of ending the day with a stock market value higher than Microsoft Corp's for the first time, as the online shopping behemoth weathered the recent turmoil on Wall Street. Amazon's stock was down 1.14 percent, bringing its market capitalization to $690.4 billion, while software maker Microsoft's 1.83 percent fall depressed its market capitalization to $690.3 billion. Bolstered by blockbuster quarterly results, Amazon's stock gained 3.8 percent over the three sessions ended Tuesday, even as Wall Street struggled through a rout that has raised fears that a nine-year bull market may be ending. Microsoft lost about 3.1 percent over the three sessions ended Tuesday. Amazon's market cap at points on Wednesday during intraday trade already topped that of Microsoft, but it has never closed at a higher value. Amazon's explosive growth in retail and cloud computing has sent its shares 77 percent higher over the past year, outpacing Microsoft's 42 percent rise. Apple Inc's $819 billion market capitalization remains Wall Street's largest, followed by Alphabet Inc, the parent of Google, at $736 billion.

Amazon's market value on verge of beating out Microsoft

After closing at a record low, Sensex, Nifty recovered in opening trade on value buying in frontline stocks led by banking, auto and metal.

Sensex was up by 238.41 points trading at 34,434.35 and the Nifty was up 89.50 points at 10,587.75.

The broader NSE Nifty ended 1.58 percent lower at 10,498.25, while the BSE index fell 1.61 percent to 34,195.94. Both indexes had earlier fallen as much as 3.6 percent.

The markets had fallen over 1,000 in early morning trade on Tuesday as strong selling pressure dragged down all the Sensex and the Nifty components.

Tata Motors, India Bulls Housing Finance, Axis Bank and Hindalco were the biggest losers in the opening trade.

The rupee too fell to 64.38 against US dollar, as against Monday&#39;s close of 64.06, a fall of about 32 paisa.

The fall came as Wall Street stocks plunged leading to large-scale bloodbath in Asian stocks.

Tokyo led the collapse throughout the region in early trade, diving more than five per cent. Hong Kong was down almost four per cent at one point, Sydney 3 per cent on Tuesday morning.

Sensex was up by 238.41 points trading at 34,434.35 and the Nifty was up 89.50 points at 10,587.75

After closing at a record low, Sensex, Nifty recovered in opening trade on value buying in frontline stocks led by banking, auto and metal. Sensex was up by 238.41 points trading at 34,434.35 and the Nifty was up 89.50 points at 10,587.75. The broader NSE Nifty ended 1.58 percent lower at 10,498.25, while the BSE index fell 1.61 percent to 34,195.94. Both indexes had earlier fallen as much as 3.6 percent. The markets had fallen over 1,000 in early morning trade on Tuesday as strong selling pressure dragged down all the Sensex and the Nifty components. Tata Motors, India Bulls Housing Finance, Axis Bank and Hindalco were the biggest losers in the opening trade. The rupee too fell to 64.38 against US dollar, as against Monday's close of 64.06, a fall of about 32 paisa. The fall came as Wall Street stocks plunged leading to large-scale bloodbath in Asian stocks. Tokyo led the collapse throughout the region in early trade, diving more than five per cent. Hong Kong was down almost four per cent at one point, Sydney 3 per cent on Tuesday morning.

Sensex, Nifty recover after terrible Tuesday

Asian stocks plunged Tuesday after a<a href="http://www.wionews.com/business-economy/wall-street-crash-dow-jones-plunges-to-historic-low-sp-500-nasdaq-hit-31929"> record-breaking loss on Wall Street</a>, extending a global rout as panicked investors fret over rising US borrowing costs and take profits after months of market euphoria.

Tokyo led a collapse throughout the region, briefly diving almost seven percent before closing down 4.7 per cent. Hong Kong was down more than four percent and Sydney and Singapore each sank three per cent.

Other assets were also hammered, with a slump in oil prices scything energy firms, while higher-yielding currencies have been hit by a flight to safe havens.

Dealers tracked their colleagues in New York, where the Dow suffered its worst points fall in history and wiped out all its 2018 gains, while the S&amp;P 500 also took a beating to sit down for the year.

Global stocks have enjoyed months of surges fuelled by optimism over the US economy, corporate earnings and the global outlook.

The winning streak was fanned by the passage of Donald Trump&#39;s massive tax cuts bill in December, which led several big-name firms to announce pay rises and bonuses.

At the same time the economy continues to improve across the board.

Volatility warning

But while traders have been piling into equities, pushing many global indexes to record or multi-year highs, there has been growing concern on trading floors about elevated US Treasury bond yields -- at four-year highs -- and the likelihood of fresh Federal Reserve interest rate rises.

Selling kicked in on Friday when official data showed another jump in US jobs and a rally in wage growth, fuelling fears that inflation will surge this year and the Fed will be forced to raises rates more than expected.&nbsp;

The so-called Vix volatility index more than doubled in US trade on Monday.

Among other Asian markets Seoul lost 1.5 percent, Taipei sank five percent, Manila plunged 1.1 percent and Shanghai gave up 3.4 percent. Mumbai was 0.9 percent lower, Bangkok plunged 2.4 percent and Jakarta and Kuala Lumpur were also well down.

&quot;How far it goes down? You tell me,&quot; Steven Wieting, global chief investment strategist at Citigroup, told Bloomberg TV. You cannot keep up this speed of decline &quot;day after day after day without finding some sort of bottom rather quickly&quot;, he added, predicting further volatility.

Energy firms were among the biggest victims, with Inpex losing more than four percent in Tokyo, while CNOOC, PetroChina and Sinopec were down between five and 6.5 percent in Hong Kong. Sydney-listed Woodside Petroleum was off nearly four three percent and BHP shed 2.7 percent.

Tech giants were also targeted after disappointing earnings reports from Apple and Google parent Alphabet. Tencent, Sharp and Samsung all got a bloody nose.

On currency markets the yen, considered a go-to unit in times of turmoil and uncertainty, climbed against the dollar. The greenback, however, rose against the pound and euro thanks to the rate rise expectations.

Bitcoin hammered

The commodity-dependent Australian dollar tanked one percent against its US counterpart, while South Korea&#39;s won, Indonesia&#39;s rupiah and the Mexican peso were among the other big losers.

And bitcoin continued its spiral downwards after some banks banned their customers from buying it with credit cards. The news is the latest to hit the cryptocurrency after recent crackdowns by authorities in India, South Korea, China and Russia.

The unit was down more than 20 percent to a three-month low below $6,000 -- less than a third of its value near $20,000 in December, which sparked warnings of a bubble.

However, while trading floors are awash with red, analysts remained upbeat, saying the selling represented a much-needed correction.

Peter Garnry, head of equity strategy at Saxo Bank, who last month predicted a pullback, said: &quot;We believe this is a healthy correction in equity markets but also likely short-lived as the higher US 10-year yield is still not in the danger zone.&quot;

And Sean Fenton, a portfolio manager at Tribeca Investment Partners in Sydney, said: &quot;I actually think there&#39;s buying opportunities, maybe not today, but through this week as this sell-off exacerbates.&quot;

Key figures around 0710 GMT

Tokyo - Nikkei 225: DOWN 4.7 percent at 21,610.24 (close)

Hong Kong - Hang Seng: DOWN 4.5 percent at 30,789.12

Shanghai - Composite: DOWN 3.4 percent at 3,370.65 (close)

Euro/dollar: DOWN at $1.2370 from $1.2373 at 2200 GMT

Pound/dollar: DOWN at $1.3955 from $1.3958

Dollar/yen: DOWN at 108.93 yen from 109.13 yen

Oil - West Texas Intermediate: DOWN 66 cents at $63.49 per barrel

Oil - Brent North Sea: DOWN 67 cents at $66.95 per barrel

New York - DOW: DOWN 4.6 percent at 24,345.75 (close)

New York - S&amp;P 500: DOWN 4.1 percent at 2,648.94 (close)

London - FTSE 100: DOWN 1.5 percent at 7,334.98 (close)

Dealers tracked their colleagues in New York, where the Dow suffered its worst points fall in history, wiping out all its 2018 gains

Asian stocks plunged Tuesday after a record-breaking loss on Wall Street, extending a global rout as panicked investors fret over rising US borrowing costs and take profits after months of market euphoria. Tokyo led a collapse throughout the region, briefly diving almost seven percent before closing down 4.7 per cent. Hong Kong was down more than four percent and Sydney and Singapore each sank three per cent. Other assets were also hammered, with a slump in oil prices scything energy firms, while higher-yielding currencies have been hit by a flight to safe havens. Dealers tracked their colleagues in New York, where the Dow suffered its worst points fall in history and wiped out all its 2018 gains, while the S&P 500 also took a beating to sit down for the year. Global stocks have enjoyed months of surges fuelled by optimism over the US economy, corporate earnings and the global outlook. The winning streak was fanned by the passage of Donald Trump's massive tax cuts bill in December, which led several big-name firms to announce pay rises and bonuses. At the same time the economy continues to improve across the board. Volatility warning But while traders have been piling into equities, pushing many global indexes to record or multi-year highs, there has been growing concern on trading floors about elevated US Treasury bond yields -- at four-year highs -- and the likelihood of fresh Federal Reserve interest rate rises. Selling kicked in on Friday when official data showed another jump in US jobs and a rally in wage growth, fuelling fears that inflation will surge this year and the Fed will be forced to raises rates more than expected. The so-called Vix volatility index more than doubled in US trade on Monday. Among other Asian markets Seoul lost 1.5 percent, Taipei sank five percent, Manila plunged 1.1 percent and Shanghai gave up 3.4 percent. Mumbai was 0.9 percent lower, Bangkok plunged 2.4 percent and Jakarta and Kuala Lumpur were also well down. "How far it goes down? You tell me," Steven Wieting, global chief investment strategist at Citigroup, told Bloomberg TV. You cannot keep up this speed of decline "day after day after day without finding some sort of bottom rather quickly", he added, predicting further volatility. Energy firms were among the biggest victims, with Inpex losing more than four percent in Tokyo, while CNOOC, PetroChina and Sinopec were down between five and 6.5 percent in Hong Kong. Sydney-listed Woodside Petroleum was off nearly four three percent and BHP shed 2.7 percent. Tech giants were also targeted after disappointing earnings reports from Apple and Google parent Alphabet. Tencent, Sharp and Samsung all got a bloody nose. On currency markets the yen, considered a go-to unit in times of turmoil and uncertainty, climbed against the dollar. The greenback, however, rose against the pound and euro thanks to the rate rise expectations. Bitcoin hammered The commodity-dependent Australian dollar tanked one percent against its US counterpart, while South Korea's won, Indonesia's rupiah and the Mexican peso were among the other big losers. And bitcoin continued its spiral downwards after some banks banned their customers from buying it with credit cards. The news is the latest to hit the cryptocurrency after recent crackdowns by authorities in India, South Korea, China and Russia. The unit was down more than 20 percent to a three-month low below $6,000 -- less than a third of its value near $20,000 in December, which sparked warnings of a bubble. However, while trading floors are awash with red, analysts remained upbeat, saying the selling represented a much-needed correction. Peter Garnry, head of equity strategy at Saxo Bank, who last month predicted a pullback, said: "We believe this is a healthy correction in equity markets but also likely short-lived as the higher US 10-year yield is still not in the danger zone." And Sean Fenton, a portfolio manager at Tribeca Investment Partners in Sydney, said: "I actually think there's buying opportunities, maybe not today, but through this week as this sell-off exacerbates." Key figures around 0710 GMT Tokyo - Nikkei 225: DOWN 4.7 percent at 21,610.24 (close) Hong Kong - Hang Seng: DOWN 4.5 percent at 30,789.12 Shanghai - Composite: DOWN 3.4 percent at 3,370.65 (close) Euro/dollar: DOWN at $1.2370 from $1.2373 at 2200 GMT Pound/dollar: DOWN at $1.3955 from $1.3958 Dollar/yen: DOWN at 108.93 yen from 109.13 yen Oil - West Texas Intermediate: DOWN 66 cents at $63.49 per barrel Oil - Brent North Sea: DOWN 67 cents at $66.95 per barrel New York - DOW: DOWN 4.6 percent at 24,345.75 (close) New York - S&P 500: DOWN 4.1 percent at 2,648.94 (close) London - FTSE 100: DOWN 1.5 percent at 7,334.98 (close)

Asian markets plunge as Wall Street rout spreads

The Sensex nosedived 1,179.82 points today to reach&nbsp;33,577.34 on global cues, at one point it fell over 1,200 points to 33,482.

The Nifty fell 294.50 points to 10,372.05, a fall of 2.76 per cent.

Strong selling pressure dragged down all the Sensex and the Nifty components.

Tata Motors, India Bulls Housing Finance, Axis Bank and Hindalco were the biggest losers in the opening trade.

The rupee also fell to 64.38 against US dollar, as&nbsp;against Monday&#39;s close of 64.06, a fall of about 32 paisa.

<a href="http://www.wionews.com/business-economy/wall-street-crash-dow-jones-plunges-to-historic-low-sp-500-nasdaq-hit-31929">In the biggest fall in its history</a>, the Dow Jones Industrial Average fell nearly 1,600 points over fears of elevated US Treasury bond yields -- at four-year highs -- and the likelihood of fresh Federal Reserve interest rate hikes as the US economy strengthens.

Asian stocks also plunged today because of the record-breaking loss on Wall Street. Tokyo led the collapse throughout the region in early trade, diving more than five per cent. Hong Kong was down almost four per cent at one point,&nbsp;Sydney 3 per cent, Singapore 2.3 per cent, Seoul 3 per cent, Taipei 3.7 per cent, and Shanghai 2.1 per cent.

Media reports quoted market observers as saying that besides negative global cues, heavy selling pressure in banking, capital goods, auto and oil and gas stocks, pulled the stocks lower. 
 
The Sensex fell for the sixth day in a row, yesterday because of global cues and fears that the Reserve Bank of India would turn more hawkish at its policy meeting later this week.&nbsp;The index had lost 1,526 points in the previous five sessions after its remarkable over 2,200-point gain in January month.

Prior to that, shares slumped because the markets weren&#39;t too happy with the budget because of&nbsp;the imposition of long-term capital gains of 10 per cent on equities.&nbsp;The sensex fell over 800 points on Friday and over 300 points on Monday.

(With inputs from agencies) 
&nbsp;

The Nifty fell 294.50 points to 10,372.05, a fall of 2.76%

The Sensex nosedived 1,179.82 points today to reach 33,577.34 on global cues, at one point it fell over 1,200 points to 33,482. The Nifty fell 294.50 points to 10,372.05, a fall of 2.76 per cent. Strong selling pressure dragged down all the Sensex and the Nifty components. Tata Motors, India Bulls Housing Finance, Axis Bank and Hindalco were the biggest losers in the opening trade. The rupee also fell to 64.38 against US dollar, as against Monday's close of 64.06, a fall of about 32 paisa. In the biggest fall in its history, the Dow Jones Industrial Average fell nearly 1,600 points over fears of elevated US Treasury bond yields -- at four-year highs -- and the likelihood of fresh Federal Reserve interest rate hikes as the US economy strengthens. Asian stocks also plunged today because of the record-breaking loss on Wall Street. Tokyo led the collapse throughout the region in early trade, diving more than five per cent. Hong Kong was down almost four per cent at one point, Sydney 3 per cent, Singapore 2.3 per cent, Seoul 3 per cent, Taipei 3.7 per cent, and Shanghai 2.1 per cent. Media reports quoted market observers as saying that besides negative global cues, heavy selling pressure in banking, capital goods, auto and oil and gas stocks, pulled the stocks lower. The Sensex fell for the sixth day in a row, yesterday because of global cues and fears that the Reserve Bank of India would turn more hawkish at its policy meeting later this week. The index had lost 1,526 points in the previous five sessions after its remarkable over 2,200-point gain in January month. Prior to that, shares slumped because the markets weren't too happy with the budget because of the imposition of long-term capital gains of 10 per cent on equities. The sensex fell over 800 points on Friday and over 300 points on Monday. (With inputs from agencies)

After Wall Street bloodbath, Sensex plunges over 1,000 points

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