Literature Commission inaugurates Saudi Pavilion at Muscat Book Fair    Saudi Minister of Culture holds talks with his Costa Rican counterpart in Jeddah    Saudi Arabia cracks down on fraudulent Hajj campaigns, urges pilgrims to use official channels    Nammos Amala Resort to open soon with Saudi-Greek designs    Saudi Arabia completes 674 Vision 2030 initiatives, achieves 93% of KPIs as ninth-year milestone marked    MHRSD: 80% of recruitment offices are non-compliant with regulations    GACA chief chairs 16th meeting of the Steering Committee on aviation's strategy    Alkhorayef praises advancements in Al-Kharj food industries sector    At least 50 Palestinians killed in Israeli strikes across Gaza    Teenage girl killed in French school stabbing attack    Trump claims meeting with China after Beijing denies any trade negotiations    Police fatally shoot man at Toronto's international airport    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Jennifer Lopez dazzles in Jeddah with a Formula 1 performance    Saudi Arabia open to expanded 64-team World Cup in 2034, says sports minister    Average life expectancy in Saudi Arabia rises to78.8 years    Super Max Verstappen scorches to pole with record lap in Jeddah    Film Commission launches 'Cinema' initiative to enhance content    Famed Philippine film star Nora Aunor dies at 71    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Wall Street tumbles on chip stocks, commodities soften after wild ride
Published in Saudi Press Agency on 19 - 04 - 2018

Wall Street stocks fell on a broad-based slump in technology stocks and a tumble in consumer staples on Thursday, while oil prices softened and other commodities went on a wild ride.
Rising U.S. Treasury yields widened the curve slightly after nine days of flattening, and supported a stronger dollar.
Strong corporate earnings had boosted stocks this week, but a tepid forecast on smartphone demand sent stocks from Apple to chipmakers tumbling on Thursday.
Tobacco company Philip Morris plunged as much as 16.5 percent after announcing weak results and forecasts, dragging down the S&P 500 index and rival Altria.
Oil prices softened after having spiked to highs not seen since 2014.
U.S. crude fell 0.35 percent to $68.23 per barrel and Brent was last at $73.71, up 0.31 percent.
Nickel and aluminum soared to multi-year highs, buoyed by talk that Saudi Arabia had its sights set on $80 to $100 a barrel oil and of more U.S. sanctions on Russian aluminum producers, including Rusan.
The Dow Jones Industrial Average fell 116.23 points, or 0.47 percent, to 24,631.84, the S&P 500 lost 18.31 points, or 0.68 percent, to 2,690.33 and the Nasdaq Composite dropped 57.58 points, or 0.79 percent, to 7,237.66.
The pan-European FTSEurofirst 300 index rose 0.02 percent and MSCI's gauge of stocks across the globe shed 0.47 percent.
Benchmark 10-year U.S. Treasury notes last fell 14/32 in price to yield 2.9173 percent, its highest since Feb. 21.
The dollar rose 0.3 percent against a basket of major currencies as the higher yields and expectations of more Federal Reserve rate increases offset concerns about a trade war and a ballooning U.S. budget deficit.


Clic here to read the story from its source.