Markets Right Now: Weak earnings pull U.S. stocks lower

Futures Slump on Global Riskoff Sentiment; Caterpillar Weighs

AT&T was among the big decliners in the media and communications sector, dropping 8.1 per cent to United States dollars 30.36 after the communication giant's latest quarterly results fell short of Wall Street's expectations.

The tech-heavy Nasdaq composite is on track to end more than 10 percent below its August peak, putting it in what Wall Street calls a "correction".

Profit growth at S&P 500 companies is expected to have slowed to 22.1 percent in the third quarter, from the previous two, according to Refinitiv data, and is expected to slow to 19.6 percent in the fourth quarter.

TheDow Jones Industrial Average pared losses to close down about 300 points, or 1.2%.

Google-parent Alphabet sank 4 percent after its revenue missed estimates, fanning concerns that regulatory scrutiny and competition would throttle its scorching pace of growth.

For the S&P 500, a 10 percent decline could push the USA index into correction territory.

A clutch of weak outlook on Wednesday pushed the Nasdaq into correction territory and erased the Dow and the S&P 500's gains for the year.

The S&P 500 index fell 43 points, or 1.6 percent, to 2,661. Helped by tax cuts, the economy expanded at a 4.2 percent annual pace from April through June, fastest in almost four years.

In the course of Tuesday trading, the S&P 500 again fell below its 200-day moving average, but an afternoon rebound suggested the bottom is not quite ready to drop out.

At least 17 dead, dozens missing in Dead Sea floods
Also among the dead were passers-by who had been picnicking in the area, he said, adding that a nearby bridge had collapsed. The private-school students and their adult chaperones were touring near the Dead Sea when the floods carried them away.

Virat Kohli become fastest batsman to 10,000 ODI runs
Hope, who registered his second ODI ton, kept chipping away despite some tight bowling by the Indian pacemen and Holder´s run out. The spinner then bowled seasoned Marlon Samuels (13) to leave the visitors in a spot of bother at 78 for three in 12 overs.

Smithtown man threatened senators over Kavanaugh
Although Stephan said he believes the evidence on both sides were too insufficient for a verdict, he feels for Ford. The Democrats appear to have since thought better of selling the Supreme Injustice shirt.

Benchmark U.S. crude rose 0.8 percent to $67.33 a barrel.

The Nasdaq registered its biggest daily percentage gain since March 26.

The tech-heavy Nasdaq composite dropped 170 points, or 2.3 percent, to 7,151.

On Thursday the stock market looks the way it has looked for most of this year: high-tech and consumer-focused companies lead the way while steadier, defensive stocks that pay big dividends weren't doing much, or lost ground. Britain's FTSE 100 slid 1.3 percent.

That reignited worries over the impact of rising borrowing costs, wages and tariffs on corporate profits and caused S&P industrial stocks to slide 2.24 percent.

Texas Instruments, a major chipmaker, slumped 5.5 percent after its results missed forecasts. Bond prices continued to rise, sending yields lower. National Oilwell Varco lost 7.8 percent to $34.12.

Energy stocks declined despite the pickup in USA oil prices.

Apple (AAPL.O) fell 1.6 percent after hours, while Twitter (TWTR.N) dipped 2.5 percent. The index is now off about 9.4 per cent from its September 20 peak.

Market participants say a healthy level of hedging activity going into the sell-off and the recent upward bid for Treasury prices explains the volatility index's relative calm. Shares were lower in most markets apart from Indonesia. The Kospi in South Korea dropped 1.6 percent. Futures markets for Japan's Nikkei index are also down more than 2%.

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