The Dow lost nearly 500 points Wednesday as the main indexes suffered their sharpest one-day declines in nearly six weeks.
Investors grew increasingly concerned about an economic slowdown stemming from the trade war after a report showed hiring by private employers slowed last month.
Stocks fell across the board, sending the S&P 500 down 1.8%.
It and the Dow fell below key technical levels that could presage further losses.
Phoenix Financial Services chief market analyst, Wayne Kaufman: SOUNDBITE: PHOENIX FINANCIAL SERVICES CHIEF MARKET ANALYST, WAYNE KAUFMAN (ENGLISH) SAYING: "These are panic levels.
This is so far what we call a 90% down day." Shares of Ford dropped.
The carmaker's quarterly auto sales fell about 5% in the U.S. That also pulled down GM's stock.
Activision Blizzard shares fell.
Bernstein downgraded the videogame maker's shares to "underperform" from "market perform," saying the stock is overpriced.
Johnson & Johnson was one of only two Dow stocks to finish in the black.
The drugmaker agreed to pay $20.4 million to settle opioid claims by two Ohio counties, allowing it to avoid an upcoming federal trial.
It was a banner month for global stocks, powered in part by the biggest November gain for the S&P 500 in history and the strongest monthly performance for the Dow since 1987. Conway G. Gittens has the details.
The S&P 500 and Dow closed lower Wednesday as mounting U.S. layoffs in the wake of new lockdowns to contain surging COVID-19 infections dampened investor risk appetite. Fred Katayama reports.
Slack rocketed as much as 32% higher on Wednesday after Dow Jones reported Salesforce.com is in talks to acquire the workspace-communications company. Such a deal would likely value Slack at more than the $17 billion market cap it held before shares jumped. There's no guarantee the talks will lead to a takeover, and Salesforce could target another company for an acquisition, sources familiar with the matter told Dow Jones.
The S&P 500 and the Dow retreated Wednesday as a surprise rise in weekly jobless claims added to signs the recovery of the labor market was stalling amid a surge in COVID-19 infections. Fred Katayama reports.
Global shares reached record highs on Wednesday after the Dow Jones broke 30,000, with investors relieved at the prospect of a smooth handover of power after the U.S. presidential election and confident a COVID-19 vaccine would soon be ready. Francis Maguire reports.
Spartan Capital Securities chief market economist Peter Cardillo tells Reuters Fred Katayama investors are overly optimistic on the impact of vaccines as AstraZeneca's trial data comes under question. He also provides his view on retailers' prospects for the holiday shopping season.
Tesla may be the new kid on the block in the auto industry, but it's quickly become a big kid on Wall Street. The electric-car maker's shares continued to climb more than 4% on Tuesday. This increases the company's total market value above $500 billion for the first time. The milestone comes on the heels of a banner year for Tesla's stock, says CNN. Tesla recently upgraded facility now has the capacity to build 500,000 Model Y and Model 3 sedans a year.
Wall Street's main indexes dipped on Friday as fears grew over fading stimulus and the blow to the economy from increasing coronavirus infections. Fred Katayama reports.
Wall Street's main indexes dipped on Friday as fears grew over fading stimulus and the blow to the economy from increasing coronavirus infections. Fred Katayama reports.
Target blew past Wall Street expectations for quarterly profit and sales on Wednesday as more Americans used the big-box retailer's quick delivery services to buy everything from electronics to home goods during the COVID-19 pandemic. Fred Katayama reports.
Pope Francis on Saturday installed 13 new cardinals, including the first African-American to hold the high rank, further expanding the pontiff's impact on the group that will one day elect his successor. Fred Katayama reports.
[NFA] Nearly all social gatherings of individuals from more than a single household will be banned in Los Angeles County for at least three weeks starting Monday under new restrictions local health officials unveiled on Friday, citing a continued surge in COVID-19 infections. Fred Katayama reports.
The S&P 500 and Nasdaq Composite indexes closed at record highs on Tuesday, as investors applauded renewed stimulus talks in Washington and bet a COVID-19 vaccine will be available soon. Conway G. Gittens has all the Wall Street action.
On Friday, US stocks made gains as hopes for a peaceful transition to the Biden administration offset concerns about soaring COVID-19 cases. Business Insider reports S&P 500 closed at a record high. On Thursday Pres. Donald Trump said he'd hand over power when the Electoral College certifies President-elect Joe Biden as the winner of the 2020 election. The US reported 125,082 new coronavirus cases on Thursday. That brought the seven-day average to 163,831, according to the COVID Tracking Project. Deaths topped 254,000, and hospitalizations jumped above 90,000. The stock market's "fear gauge" fell as low as 19.51 on Friday, dropping amid low trading volumes to its lowest level since the pandemic began.
Missouri's highest court on Tuesday refused to consider Johnson & Johnson's appeal of a $2.12 billion damages award to women who blamed their ovarian cancer on asbestos in its baby powder and other talc products. Bryan Wood reports.
AstraZeneca has resumed the U.S. trial of its experimental COVID-19 vaccine after approval by regulators, and Johnson & Johnson is preparing to resume its trial early next week, the companies said on Friday. Fred Katayama reports.
Global coronavirus cases rose by more than 400,000 for the first time late on Friday, a record one-day increase as much of Europe enacts new restrictions to curb the outbreak. Freddie Joyner has more.
Dramatic bodycam footage released by police in Alliance, Ohio, shows officers on Sunday clambering down a muddy riverbank and smashing a window of a sinking car in order to save a woman.
Cops in Ohio are being hailed heroes -- and rightfully so -- after rescuing a woman trapped inside a sinking van in a freezing lake ... and body cam footage.. TMZ.com
[NFA] President-elect Biden was formally given the go-ahead by a key federal agency to begin his transition to the White House, shortly after Michigan certified him as the state's winner. This report produced by Chris Dignam.
Mike Bloomberg has poured over $1 billion into 2020 election cycle during his short-lived presidential term and after he dropped out. He spent a huge amount of money a variety of races and ads. He did not get the results he was looking for. Business Insider reports Biden spent $115 million on ads in support of Joe Biden in Florida, Ohio, and Texas. Biden lost all three key states.
Wall Street's benchmark S&P 500 stock index edged lower overnight as weak US economic data and... Sydney Morning Herald - Published Also reported by •The Age
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