Stocks fall sharply as sell-off continues

01 February, 2018, 00:55 | Author: Celia Hoffman
  • Stocks fall sharply as sell-off continues

USA stocks closed lower on Tuesday as the first major sell-off this year intensified.

The U.S. Dow Jones stock index fell by 1.37% to 26,769.89 points, S&P 500 by 1.09% to 2,822.43 points and NASDAQ by 0.86% to 7,402.48 points. The 30-stock index was also on track for its biggest two-day points drop since September 2016.

The rapid growth of mHealth in psychiatry has led to the development of a variety of web-driven screening tools for many mental health issues.NEW YORK: Wall Street pulled back from record highs on Monday, with the Dow and the S&P 500 indexes marking their biggest one-day percentage declines in about five months, weighed down by a slide in Appleshares.

The index closed down 362.59 points at 26,076.89 in NY, with the broader S&P 500 index falling 31.10 points to 2,822.43.

But investors pulled back this week, dropping the Dow 540 points in two days, after a slew of bearish indicators started flashing red - including weakening appetite for U.S. government bonds and expectations that the Federal Reserve will raise interest rates in March.

The four FANG stock tech leaders traded higher. The Japanese yen strengthened 0.17 per cent versus the greenback at 108.79 per dollar. That's the biggest one-day drop since August 17.

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US stock indexes retreated from record highs Monday, weighed down by falling utilities and real-estate shares.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.74 per cent. Investors expect them to benefit from rising interest rates.

Although the Dow decline came just hours before President Trump's State of the Union address, the President was still expected to trumpet the country's economic gains and pat himself on the back for a stock market that until now had set a string of new records.

The Fed last hiked its benchmark interest rate in December, to 1.25 percent. Check Point Software (CHKP) took the hardest early hit among Nasdaq 100 stocks, down more than 3% after a mixed fourth-quarter performance.

The weakness on Wall Street was partly due to profit taking, with traders cashing in on the recent strength of the markets. On the other hand, other indexes closed higher.

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