Asian shares lower as sentiments get dragged by Wall Street
Mar 06, 2018, 01:17
The Standard & Poor's 500-stock index dropped 1.1 percent Wednesday.
Industrial companies that could be hurt by higher steel prices fell.
On Tuesday, Powell said in his first monetary policy testimony that despite the stockmarket's recent volatility, Fed governors still plan on hiking rates multiple times throughout 2018. Analysts and traders have cautioned that much of the turbulence this week may stem from market positioning as much as a substantial change of tack by Powell. The Nasdaq fell 92 points, or 1.3 percent, to 7,180.
Technology companies and drugmakers also fell, as they make much of their revenue outside the USA and could be vulnerable if other countries respond with tariffs of their own.
The net proceeds from the rights offering, along with additional borrowings under the revolving credit facility, will be used to repay in full the company's second-lien term loan, on which it is now in default.
Following weak leads from USA markets, the Australian share market looks set to open lower.
"The members of the S&P 500 has become quite globalized, and one may argue that most of the things that have benefited this bull market have been globalization-related", Michael O'Rourke, JonesTrading chief market strategist, said by phone.
The Nasdaq futures are down more than 53 points.
The S&P 500 fell for a third straight day after President Donald Trump said the USA would slap tariffs on steel and aluminum.
On the corporate front this morning, retailers have been hogging the spotlight.
Berkshire Hathaway gained 4 per cent after Warren Buffett said his conglomerate, which is sitting on US$116 billion of cash, is "more inclined" to repurchase stock than pay dividends as a means to use excess cash.
Excluding one-off charges and adjustments, earnings per share were positive at US$1.26.
The ASX 200 year to date was down 0.8% at the end of February - yesterday's fall took that to 1.5% and today's drop could push it well past 2%. The chief executive officer of the marijuana producer said the company would list on the U.S. Nasdaq exchange "in due course".
The shares were down 7.4% at US$42.50 ahead of the start of open outcry trading.
Revenue rose to US$4.03bn from US$3.96bn the year before and was roughly in line with expectations.
In a big week for retail earnings, Kohl's Corp reported fourth-quarter comparable sales growth that was a shade above analysts' estimate and provided an upbeat 2018 earnings outlook.
Bachman's reaction to having taken a very expensive and very long Uber ride was just disbelief at the whole thing. He says he stopped at a CVS near his home and used the store's cashback option to give $20 to the driver.
We're kind of used to it at this point. "Seeing teams like the Eagles win the Super Bowl - like they say 'Hungry dogs run fast'". They will head back to Columbus, not playing a game until March 15th at the earliest, the first day of the NCAA Tournament .
Spurs responded and won a corner in the third minute, but it came to nothing and the game showed no signs of settling down. The South Korean said Tottenham thrived from playing at their temporary home after taking some time to settle in.
Trump spoke 32 minutes, longer than normal.At one point, a woman heckled Trump to "stop", and had to be shushed by tablemates. Trump accepted an invitation to the 133rd anniversary dinner, his first given that he declined to attend past year .
At least 76 pro-regime fighters and 43 rebels from Jaish al-Islam have also been killed in clashes since Feb 25, it said. Rebels have consistently denied this accusation and say people will not leave because they fear the government.
The Sheriff's Office said their investigation is transitioning from a missing person's report to a homicide investigation. The body of a mother who mysteriously disappeared from her front yard leaving her two children home alone has been found.
The figure raised hope that the disruptions from dramatic policy moves by Prime Minister Narendra Modi a year ago may have faded. With these numbers, India has regained the status of world's fastest-growing major economy and has beaten China after one year.
Andy King, who scored his first Swansea goal in the win over the Hammers , said: "They were brilliant, they don't stop running". Everton's misery was compounded when defender Ashley Williams was sent- off late on for elbowing Barnes. "We have more to do".
Rockets Win Streak Hits 15 Games With Win Over Celtics
A big factor in the Celtics' offensive surge has been their ability to shoot the ball well from the floor and from 3-point range. Harden, the NBA's leading scorer, comes into Saturday's game averaging 31 points per game and almost nine assists per game.
EU to respond firmly to US President's tariffs
Protectionism is a tool that has been employed by Mr Donald Trump's predecessors, including Republican President George W. Along with the 10 percent tariff on imports of aluminum , there would be a 25 percent tariff on imports of steel.