Stocks take sharp losses; Apple, Microsoft, Amazon and Facebook drop

A monitor displays stock market information on the floor of the New York Stock Exchange

A monitor displays stock market information on the floor of the New York Stock Exchange

Tuesday's slide compounded Monday's losses on the Dow, resulting in a two-day losing streak of about 950 points, or 4 percent.

The National Association of Home Builders/Wells Fargo Housing Market Index fell eight points to 60 in November.

The Nasdaq composite skidded 219.40 points, or 3%, to 7,028.48.

The S&P 500 and Dow Jones industrial average fell into the red for the year as fears grew that a long-running bull market is nearing an end. The Dow sank 1.6 percent to 25,017.44. Its revenue was 17.82 billion dollars, slightly higher than analysts' expectations. Facebook sank 5.7 percent to $131.55 and Netflix lost 5.6 percent to $270.21.

Kohl's and Macy's, also big retailers, plunged 9.23 percent and 3.42 percent respectively. Apple shares fell by almost 4 percent. Boeing, a major exporter, gave up 4.5 percent.

Energy companies are also slumping Tuesday because of a 5 percent drop in the price of oil.

Trump's remarks came two weeks ahead of a meeting between Saudi-led OPEC and world's other oil producers to discuss about potential output cut and potential global oil policy in December, in a bid to grapple with the current supply glut worrying investors.

All the stock market gains of 2018 disappeared Tuesday in a flurry of sell orders on Wall Street, where investors soured on tech stocks and fretted about trade war with China. It measures the daily stock price movements of 30 large, publicly-owned USA companies.

U.S. -CHINA TRADE: Investors focused on simmering trade tension between Washington and Beijing after the two governments clashed at a weekend conference.

PSG confirm Neymar and Kylian Mbappe injuries ahead of Liverpool clash
The Brazilian was forced off the pitch with a groin problem during his nation's global friendly against Cameroon at Stadium MK. On Wednesday, PSG announced that Mbappe has a bruised shoulder, while scans on Neymar showed a right adductor strain.

Presidents Trump and Chinese President Xi Jinping are set to meet next week at the G20 summit in Argentina, but a breakthrough in the trade standoff is not expected.

Apple, Microsoft and Amazon, the most valuable companies on the market, sustained some of the worst losses.

The S&P 500 fell 36 points, or 1.3 percent, to 2,654. All 30 Dow companies closed down.

Nissan's US -listed shares slumped 6.1 percent after the carmaker's chairman, Carlos Ghosn, was arrested after allegedly under-reporting his income.

Schlesinger advises that people who have invested in stocks look at the numbers with a level head: "Don't worry about the big numbers that you're seeing, these moves are going to be really tough for you to weather day to day, try to just get your head on straight".

Bond prices fell. The yield on the 10-year Treasury note rose to 3.07 percent.

The dollar rose to ¥112.80 from ¥112.54. The euro rose to $1.1453 from $1.1412. Japan's benchmark Nikkei 225 rose 0.7 percent and Hong Kong's Hang Seng added 0.7 percent.

France's CAC 40 gave up 0.8 percent and Germany's DAX slid 0.9 percent. The pound rose to $1.2855 from $1.2831. Britain's FTSE 100 slipped 0.2 percent. South Korea's Kospi gained 0.4 percent.

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