Japan Stocks Plunge, Other Asia Markets Fall After US Losses - NBC4 Washington

Japan Stocks Plunge, Other Asia Markets Fall After US Losses

U.S. stocks are on track for their worst December since 1931 during the Great Depression

    processing...

    NEWSLETTERS

    Overcoming Health Challenges
    Getty Images/EyeEm
    A photo of stock data taken in Bangkok, Thailand.

    Japanese stocks plunged Tuesday and other Asian markets declined following heavy Wall Street losses triggered by President Donald Trump's attack on the U.S. central bank.

    The Nikkei 225 fell by an unusually wide margin of 4.8 percent to 19,189.00. The Shanghai Composite Index lost 2.3 percent to 2,469.28. Benchmarks in Thailand and Taiwan also declined.

    Markets in Hong Kong, Australia and South Korea were closed for Christmas.

    Wall Street indexes fell more than 2 percent on Monday after Trump said on Twitter the Federal Reserve was the U.S. economy's "only problem." Efforts by Treasury Secretary Steven Mnuchin to calm investor fears only seemed to make matters worse.

    Students Use Google Docs to Create DIY Social Media Network

    [NATL-BAY] Students Use Google Docs to Create DIY Social Media Network

    Monitoring services like Bark and Gaggle say a growing number of students are using cloud-based platform Google Docs as a DIY social media network. In some instances, students are using the tool meant for work collaboration as a secret platform for bullying.

     

    (Published Friday, May 17, 2019)

    U.S. stocks are on track for their worst December since 1931 during the Great Depression. Shanghai is down almost 25 percent this year, while Tokyo, Hong Kong and other markets are on track to end 2018 down more than 10 percent.

    Markets have been roiled by concerns about a slowing global economy, the trade dispute with China and another interest rate increase by the Fed.

    Trump's Monday morning tweet heightened fears about the economy being destabilized by a president who wants control over the Fed. Its board members are nominated by the president but make decisions independently of the White House. The board's chairman, Jerome Powell, was nominated by Trump last year.

    "The only problem our economy has is the Fed," the president said on Twitter. "They don't have a feel for the Market, they don't understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can't score because he has no touch — he can't putt!"

    The Standard & Poor's 500 index slid 2.7 percent to 2,351.10. The benchmark index is down 19.8 percent from its peak on Sept. 20, close to the 20 percent drop that would officially mean the end of the longest bull market for stocks in modern history — a run of nearly 10 years.

    The Dow Jones Industrial Average sank 2.9 percent to 21,792.20. The Nasdaq skidded 2.2 percent to 6,192.92.

    Out on a Limb: Bear Hides Out From Cops in Mass. Tree

    [NATL] Out on a Limb: Bear Hides Out From Cops in Mass. Tree

    Watch as a large black bear hides out in a tree in Arlington, Massachusetts, as authorities looked to remove it from the neighborhood.

    (Published Friday, May 17, 2019)

    On Sunday, Mnuchin made a round of calls to the heads of the six largest U.S. banks, but the move only raised new concerns about the economy.

    Most economists expect U.S. economic growth to slow in 2019, not slide into a full-blown recession. But the president has voiced his anger over the Fed's decision to raise its key short-term rate four times in 2018. That is intended to prevent the economy from overheating.

    Technology stocks, health care companies and banks took some of the heaviest losses in Monday's sell-off. Wells Fargo slid 3.4 percent, Microsoft 4.2 percent and Johnson & Johnson 4.1 percent.

    U.S. markets reopen Wednesday.

    In energy markets, Brent crude, used to price international oils, lost 9 cents to $50.68 per barrel in London. The contract plummeted $3.33 on Monday to close at $50.77.

    In currency trading, the dollar declined to 110.13 yen from Monday's 110.45 yen. The euro advanced to $1.1417 from $1.1405.

    74-Year-Old Man Pushed Off of a Bus Died From Injuries

    [NATL] Elderly 74-Year-Old Man Pushed Off of a Bus Died From Injuries; Woman Charged With Murder

    Shocking video released by the Las Vegas police shows 25-year-old Cadesha Bishop shoving 74-year-old Serge Fournier off a bus during an argument. Fournier died of his injuries.

    (Published Wednesday, May 15, 2019)