Dow futures point to gains at the open after strong Boeing earnings

U.S. Stocks Fall as Dollar Gains FANG Boosts Tech Markets WrapMore

U.S. Stocks Fall as Dollar Gains FANG Boosts Tech Markets WrapMore

The average was down more than 540 points earlier.

Aurora Cannabis Inc., which debuted on the New York Stock Exchange, was down US$1.38 cents at US$7.31 on the USA market.

The S&P 500 index fell 16 points, or 0.6 per cent, to 2,724. The index is now down for the year.

Bond prices rose, sending the yield on the 10-year Treasury note down to 3.14 percent from 3.19 percent late Monday. Already languishing in a bear market, the Hang Seng Index is set for a 10 percent slump in October - putting it on course for a six-month losing streak, the worst since 1982.

The Dow Jones Industrial Average .DJI fell 608.01 points, or 2.41 percent, to 24,583.42, the S&P 500 .SPX lost 84.59 points, or 3.09 percent, to 2,656.1 and the Nasdaq Composite .IXIC dropped 329.14 points, or 4.43 percent, to 7,108.40. "Could Asian markets really withstand four rate hikes in US next year?" Trump has threatened to tax another $267 billion in Chinese products - a move that would cover virtually everything China ships to America.

Adding to the air of tension, police intercepted suspected bombs mailed to former U.S. President Barack Obama, Hillary Clinton and other high-profile Democrats, as well as to CNN, in what NY officials branded an act of terrorism. Beazer Homes USA slumped 4.8 percent to $8.77.

Truck maker Paccar tumbled 6.9 percent to $56.35, while engine manufacturer Cummins slid 3.4 percent to $135.17.

Virat Kohli becomes fastest batsman to reach 10,000 ODI runs
After losing the successful openers, the responsibility of run-scoring fell on the shoulders of Virat Kohli and the middle order. Apart from Kohli and Tendulkar, Dhoni is the only other Indian to have scored more than 4,000 runs on home soil.

It rose 1.3 per cent to United States dollars 354.65 after the defence contractor's latest quarterly results topped analysts' forecasts. Woodside Petroleum, Santos and Oil Search were lower in a range of 1% to 2%.

The FAANG stocks, some of the highest fliers in the market since the beginning of 2017, were punished especially hard on Wednesday on no major market-moving news in the space, as Netflix (NFLX) shares fell 9.4%, Facebook (FB) stock fell 5% to approach a new 52-week low, while Amazon (AMZN) and Alphabet (GOOGL) shares lost more than 5% ahead of those companies' reports expected after the market close on Thursday.

Tesla was among the few winners Tuesday.

Notably, the market saw flows into classic risk-off sectors with real estate, utilities, and consumer staples all closing in the green while the newly-formed communications sector dropped nearly 5% while the S&P tech sector lost 4.4%.

It was up 3.6 per cent to $14.25, while index benchmark CSL was also buoyant, closing 1.3 per cent higher at $176.90. Brent crude, used to price global oils, dropped 4.1 percent to $76.52 per barrel in London.

But the energy sector's weak run continued despite oil prices improving slightly overnight. Halliburton dropped 3.3 percent to $35.21. Even the high-flying dollar eased to 112 yen JPY=. The euro fell to $1.1395 from $1.1467.

In Europe, the focus was on Italy's dispute with the European Union over its plan to ramp up public spending. Boeing shares shot up more than 4.5 percent in the premarket. It's anxious that the plans would prevent Italy from lowering its debt, which is second only to Greece among its members.

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