Saturday, October 25th8.1°C
23888
22952

Stocks slide after Fed cuts stimulus; Weak earnings, emerging market woes also weigh

NEW YORK, N.Y. - Stocks are sharply lower following weak earnings from several U.S. companies, more trouble in emerging markets and economic stimulus cuts from the Federal Reserve.

The Standard & Poor's 500 index fell 18 points, or 1 per cent, to close at 1,774 Wednesday. The S&P 500 has ended lower on four of the last five days.

The Dow Jones industrial average lost 189 points, or 1.2 per cent, to 15,738. The Nasdaq composite dropped 46 points, or 1.1 per cent, to 4,051.

The stock market opened lower after companies including Boeing and AT&T gave weak earnings outlooks and investors worried about plunging currencies in developing countries like Turkey and South Africa.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.69 per cent from 2.75 per cent late Tuesday.

The Canadian Press


Read more Business News

23028


Recent Trending




Today's Market
S&P TSX14543.82+56.99
S&P CDNX805.45-3.15
DJIA16805.41127.51
Nasdaq4483.715+30.923
S&P 5001964.58+13.76
CDN Dollar0.8901-0.0003
Gold1231.20+2.10
Oil81.02-0.73
Lumber336.40+6.80
Natural Gas3.631+0.009

 
Okanagan Companies
Pacific Safety0.105-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.15-0.02
Cantex0.07+0.015
Anavex Life Sciences0.194-0.004
Metalex Ventures0.045+0.005
Russel Metals33.39+0.23
Copper Mountain Mining2.03-0.05
Colorado Resources0.145+0.005
ReliaBrand Inc0.012-0.001
Sunrise Resources Ltd0.05-0.01
Mission Ready Services0.445+0.035

 



23511

FEATURED Property
20965031034/1032 Cawston Avenue
6 bedrooms 5 baths
$609,900
more details
image2image2image2
Click here to feature your property
Please wait... loading


What I learned in China

Photo: ContributedI will never be an expert on China. It is just too big, too complex and too old with layers of history and meaning that would take several lifetimes to unravel. As I said to my hosts...


We can get on together

I was in LA this week. I witnessed such crazy and unusual circumstances as I strolled along Hollywood Blvd and Sunset Blvd. A far cry from sleepy Peachland in the Okanagan! The strange thing was, I f...


Weakening global growth worries

The Big Picture Growth worries persist Worries about weakening global growth and its potential impact on the US economic recovery roiled markets around the globe this week. Europe continues to be the ...

_








Member of BC Press Council


23091