26 de agosto de 2019
ÚLTIMAS NOTICIAS:
Hispanic World

Wall Street plunges, Dow Jones down 3.05 pct.

New York, Aug 14 (efe-epa).- Wall Street closed Wednesday with heavy losses and the Dow Jones Industrial Average, the benchmark indicator, dropped 3.05 percent due to the decline in bond prices, which caused a brief inversion of the yield curve for 10-year and 2-year Treasury Bonds, a circumstance some analysts view as a harbinger of recession.

New York, Aug 14 (efe-epa).- Wall Street closed Wednesday with heavy losses and the Dow Jones Industrial Average, the benchmark indicator, dropped 3.05 percent due to the decline in bond prices, which caused a brief inversion of the yield curve for 10-year and 2-year Treasury Bonds, a circumstance some analysts view as a harbinger of recession.

At the close of trading on the New York Stock Exchange, the Dow was down significantly - 800.49 points - coming to rest, for today at least, at 25,479.42, its largest percentage drop this year.

The S&P 500 index fell 2.93 percent, or 85.72 points, to 2,840.60 and the Nasdaq composite index, in which large tech companies are included, lost 3.02 percent, or 242.42 points, closing at 7,773.94.

The financial sector was one of the hardest hit for the day, losing 3.57 percent, with big banks like Citigroup down 5.28 percent, Bank of America 4.69 percent, JPMorgan down 4.17 percent, Goldman Sachs down 4.20 percent and Wells Fargo down 4.33 percent.

The energy sector was also a big loser on the day, down 4.12 percent, a situation linked to the decline in West Texas Intermediate Crude prices, futures contracts of which lost almost $3, ultimately closing at $55.23 and pressured by the unexpected increase in US crude reserves and poor economic data out of Europe and China.

There was great volatility on the New York trading floor and all the indexes were down sharply at midday as recession fears rattled the market, including signs of a slowdown in the economies of Germany and China.

The 10-year T-bond, the country's benchmark bond, briefly dropped below the 2-year bond during the morning, something that had not occurred since June 2007.

The inversion in the yield curve for publicly traded short- and long-term bonds sparked unease in the market, since this phenomenon has preceded several past recessions and many consider it to be a sign that the economy is fragile and perhaps about to take a dive.

President Donald Trump weighed in on the situation on Twitter, saying: "CRAZY INVERTED YIELD CURVE! We should easily be reaping big Rewards & Gains, but the Fed is holding us back. We will Win!"

Trump was referring to the Federal Reserve, headed by Chairman Jay Powell.

At the close of trading, the 10-year T-bond yield stood at 1.581 percent and the 2-year bond's yield was at 1.579 percent, while the 30-year bond's yield, which has fallen to historic lows, was at 2.019 percent.

Meanwhile, China released figures showing that its industrial production expanded by 4.8 percent in July, the slowest growth in this indicator since February 2002, providing evidence of weakness in domestic demand in the Asian giant, which is presently mired in an ongoing trade war with the US.

That is not the only country being affected by the trade war, with Germany - Europe's largest economy - reporting that its economy contracted by 0.1 percent in the second quarter pulled down by a drop in exports and a decline in industrial production, its two main pillars.

Among the 30 blue chip stock comprising the Dow Jones index, chemical firm Dow lost 5.91 percent, Walgreens was down 5.01 percent, Exxon Mobil lost 4.03 percent, Cisco 4 percent, Chevron 3.80 percent and Boeing 3.74 percent.

In other markets, gold - historically considered a safe haven in times of economic turmoil - rose to $1,524.80 per ounce and the euro strengthened to 1.1134 to the dollar.

Histórico de noticias
McIlroy pockets $15 million in Tour Championship win

Atlanta, Aug 25 (efe-epa).- Rory McIlroy pulled out the combination he needed on Sunday at Atlanta's East Lake Golf Club to win the Tour Championship's...

US, Japan finalize talks on new trade pact

Biarritz, France, Aug 25 (efe-epa).- The United States and Japan finalized negotiations on a new trade agreement that will enable Washington to increase its...

Morales accepts int'l help to put out wildfires in Bolivia

La Paz, Aug 25 (efe-epa).- Bolivian President Evo Morales said Sunday that any international help to put out the wildfires in the country's eastern...

Pope calls for commitment to save Amazon

Sao Paulo, Aug 25 (efe-epa).- Amazonas on Sunday became the seventh state in Brazil to request assistance from the armed forces in fighting the fires...

Blind artisan creates intricate works with his hands in southern Mexico

By Jose de Jesus Cortes

Supreme Court justice known as Trump critic treated for cancer

Washington, Aug 23 (efe-epa).- Progressive US Supreme Court Justice Ruth Bader Ginsburg, 86, has undergone radiation for a malignant tumor of the pancreas,...

Ex-Democratic lawmaker predicts young Latinos will unseat Trump

Chicago, Aug 23 (efe-epa).- Former Democratic lawmaker Luis Gutierrez predicts that a peaceful revolution of young Hispanic voters, supported by other...

Mexican president: Legal sabotage being mounted against new airport

Mexico City, Aug 22 (efe-epa).- Mexican President Andres Manuel Lopez Obrador on Thursday complained that the political opposition has been engaging in...

Mexican human rights commission condemns attacks on journalist

Mexico City, Aug 22 (efe-epa).- Mexico's National Commission on Human Rights (CNDH) on Thursday condemned the attacks by "individuals and authorities" on...

Brazil's president doubles down on criticism of NGOs operating in Amazon

Brasilia, Aug 22 (efe-epa).- President Jair Bolsonaro said Thursday that while he did not have evidence that non-governmental organizations were behind the...

Buenos Aires street museum once again shines with original intensity

By Carmen Herranz

Cuba relying on bacteria to end dengue epidemic

Havana, Aug 21 (efe-epa).- The dengue epidemic in several Latin American countries is also affecting - albeit to a lesser degree - Cuba, where experts are...

Trump seeks to halt family migration by extending child detentions

By Laura Barros

Children's chorus revitalizing indigenous language in Panamanian capital

By Maria M. Mur

Brazil's president points finger at NGOs in Amazon fires

Brasilia, Aug 21 (efe-epa).- President Jair Bolsonaro insinuated on Wednesday that non-governmental organizations may be behind the fires in the Amazon, the...

US Space Command to formally begin operations next week

Washington, Aug 20 (efe-epa).- The United States on Aug. 29 will launch its previously announced Space Command, which will initially have just 87 people...

Trump: US in contact with Venezuela's Maduro gov't at highest level

Washington, Aug 20 (efe-epa).- President Donald Trump said Tuesday that his administration is in contact with Venezuela's Nicolas Maduro government "at a...

2 former Major League ballplayers accused of drug trafficking in D.R.

Santo Domingo, Aug 20 (efe-epa).- Authorities have dismantled a large drug trafficking ring in the Dominican Republic whose members included former Major...

Son of immigrants travels US delivering crosses for shooting victims

By Jorge Mederos

Stabilizing peso is priority, Argentina's new finance minister says

Buenos Aires, Aug 20 (efe-epa).- New Finance Minister Hernan Lacunza said Tuesday that his main goal would be shoring up the Argentine peso, which has...

Police sharpshooter kills man who hijacked bus in Brazil

Rio de Janeiro, Aug 20 (efe-epa).- A police sharpshooter killed the man who hijacked a bus and had taken the driver and several passengers hostage on...

Twitter: China has mounted campaign to delegitimize Hong Kong protests

San Francisco, Aug 19 (efe-epa).- Twitter on Monday said that it had uncovered a coordinated effort by 936 accounts originating in China to delegitimize the...

El Salvador woman pardoned after manslaughter conviction for abortion

Ciudad Delgado, El Salvador, Aug 19 (efe-epa).- A court in El Salvador pardoned Evelyn Hernandez, 21, this Monday of the crime of aggravated manslaughter...

Bardem: If 30 pct. of oceans not protected in 2030, damage to be irreversible

By Alvaro Celorio