FYI: The Dow Jones Industrial Average slumped Thursday, as weak economic data and a rare sales warning from Apple sparked new worries about a global slowdown.
The blue-chip index dropped 661 points, or 2.83%, to 22,286, after falling more than 650 points earlier in the trading session. The S&P 500 fell 2.48% and the technology-heavy Nasdaq Composite shed 3.04%. At their lows on the day, the Dow and S&P 500 were both down more than 2% in 2019, their worst start to a year since 2000.
Nine of the 11 sectors in the S&P 500 fell, only Real Estate, and Utilities had a positive day. . The technology sector shed 4%, with Apple AAPL -9.44% shares dropping 9%. Meanwhile, dividend-paying “safety” stocks, which investors typically buy when they are nervous, rose with the real-estate group mildly higher. Utilities also rose.
Selling accelerated Thursday after data showed a decline in U.S. factory activity in December, intensifying concerns that economic growth is weakening. That followed data earlier this week that showed China’s manufacturing activity contracted last month for the first time since May 2017.
Regards,
Ted
WSJ:
https://www.wsj.com/articles/tech-stocks-lead-global-markets-lower-11546506071Bloomberg Evening Briefing:
https://www.bloomberg.com/news/articles/2019-01-03/your-evening-briefingBloomberg:
https://www.bloomberg.com/news/articles/2019-01-02/asian-stocks-to-be-hit-by-apple-sales-outlook-markets-wrap?srnd=premiumMarketWatch:
https://www.marketwatch.com/story/us-stock-market-set-to-tumble-as-apple-signals-china-pain-2019-01-03/printIBD:
https://www.investors.com/market-trend/stock-market-today/dow-drops-nearly-700-points-when-long-term-apple-holders-should-sell/Reuters:
https://www.reuters.com/article/us-usa-stocks/wall-street-tumbles-on-weak-factory-data-apple-warning-idUSKCN1OX0UWCNBC:
https://www.cnbc.com/2019/01/03/tech-shares-dive-after-hours-after-apple-warning-nasdaq-etf-loses-nearly-2-percent.htmlU.K.:
https://www.marketwatch.com/story/asian-markets-mostly-down-as-apples-warning-weighs-on-tech-stocks-2019-01-02/printEurope:
https://www.reuters.com/article/us-europe-stocks/apple-warning-shakes-european-shares-as-tech-stocks-tumble-idUSKCN1OX0HZAsia:
https://www.marketwatch.com/story/asian-markets-mostly-down-as-apples-warning-weighs-on-tech-stocks-2019-01-02/printBonds:
https://www.cnbc.com/2019/01/03/us-bonds-treasury-yields-move-lower-after-apple-revenue-warning.htmlCurrencies:
https://www.cnbc.com/2019/01/03/forex-markets-japanese-yen-australian-dollar-apple-in-focus.htmlOil:
https://www.cnbc.com/2019/01/03/oil-markets-crude-supply-stock-markets-apple-in-focus.htmlGold
https://www.cnbc.com/2019/01/03/gold-markets-global-economy-asian-stock-markets-in-focus.htmlWSJ: Markets At A Glance:
https://markets.wsj.com/usMajor ETFs % Change:
https://www.barchart.com/etfs-funds/etf-monitorSPDR's Sector Tracker:
http://www.sectorspdr.com/sectorspdr/tools/sector-trackerSPDR's Bloomberg Sector Performance Pie Chart:
https://www.bloomberg.com/markets/sectorsCurrent Futures:
https://finviz.com/futures.ashx
