There's more evidence now that USA economic tail winds highlighted this week by Federal Reserve Chairman Jerome Powell are gathering strength.
"In the USA we have at least three rate hikes this year, but in the euro zone, there was some exaggeration about where inflation was heading so that is now being priced out and yields are moving to the downside", said DZ Bank strategist Daniel Lenz. The chart on the right shows the 10-year Treasury Yield (TNX), which climbed to 2.908% by the end of the trading day. It had been down earlier in the morning. But stocks mounted a huge rebound, clawing back almost three-quarters of its price correction, after initial Fed fears briefly abated.
The Standard & Poor's 500 index dropped 41 points, or 1.5 percent, to 2,671. It had been bouncing between modest gains and losses but the losses accelerated after Powell began answering questions.
The Dow Jones industrial average dropped as much as 500 points Thursday.
He repeated that the gradual path of rate increases that the Fed has been pursuing - with three rate hikes a year ago - "will continue to be the appropriate path as long as the economy performs this way". Powell may try to stick closer to the script set out in his testimony in which he pledged to gradually raise rates while preventing the economy from overheating.
The market got spooked earlier this month when potential signs of inflation strengthened, which raised speculation that the Fed may speed up its timetable.
Mr Powell, who was nominated by Republican President Donald Trump and later confirmed by the Republican-controlled US Senate, said he felt the Fed's current tools for managing interest rates, a steady decline of its balance sheet, and its 2 per cent inflation target were working fine.
Men's Hockey Olympics Final Scores Even though there may not be the "best" players, the Winter Olympics are one of the biggest stages in hockey. Mark Arcobello scored at the 33:30 mark of the second period to make the score 3-0.
What may make things even more muddled is how long it's been since investors have had to contend with a market where inflation is a threat and interest rates are rising, Weiss said.
The newFed chair Jerome Powell caused the latest market tantrum.
"By training and experience, he's a capital markets person, not an economist", Phipps said.
Sun Hung Kai Properties rose 0.7% after the Hong Kong property developer reported a 60% jump in net profit attributable to shareholders for six months ended 31 Dec. Hong Kong Exchanges & Clearing declined 2% despite the bourse operator reporting a 28.3% rise in net profit for year ended Dec. 31, in-line with estimates.
In questioning during Tuesday's hearing, Powell was asked about the stock market, whose rise Trump has often touted. Against the euro and sterling, the yen was up 0.1 percent and 0.5 percent respectively. Disney lost $4.94, or 4.5 percent, to $104.87. The 30-year Treasury yield, which is more influenced by expectations for inflation, fell to 3.14 percent from 3.16 percent.
Bilal Hafeez, a macro strategist at Nomura in London, said the extent of the dollar reaction to the tariffs will likely depend on the reaction of other countries to the move.The euro, meanwhile, was up 0.5 percent versus the dollar, with the focus on Sunday's Italian parliamentary election and the level of support for populist agendas that could have a wider impact on the European Union.
COMMODITIES: Benchmark U.S. crude fell $1.22 to $61.79 while Brent crude, the global standard, dropped $1.19 to $65.33 per barrel.
It's also alleged that management deleted emails and other records about diversity requirements late a year ago . Arne Wilberg worked at Google for 9 years, four of which were spent at YouTube as a recruiter.
According to an official statement released by the FDA, kratom may not appear as an ingredient on those product labels. Food and Drug Administration had previously warned not to use the drug after it was tied to 36 deaths .
The players received their gold medals during a ceremony where Russian flags and the national anthem were both absent. For the Germans, the silver is their first medal since 1976 when they won a Bronze Medal after beating Finland.
By the end of this long-lasting cold snap, much of Europe will be blanketed in a deep snow cover just as spring begins to set in. The south east has been hit with warnings of power cuts and travel disruption - with five to 10cm of snow expected to lay.
We're talking about Antonio Brown/DeAndre Hopkins-level money for a guy who took 65 percent of his snaps in the slot last season. A person familiar with the team's plans tells The Associated Press that the Dolphins hope to sign Landry to a multi-year deal.
He's set to face Roman Reigns at Wrestlemania 34 . "If Brock Lesnar wants to fight in WWE , he will fight in WWE ", Heyman said. Of course there's still a chance that the WWE's Universal Champion will sign a new deal and stay with the company.
At a press conference on Monday afternoon, Ralston said that Alberta's ban is a "clear violation" of the CFTA. In Alberta, meanwhile, 82% supported the province's position compared to 18 percent siding with B.C.
Sridevi , one of India's most celebrated actresses , has died according to multiple reports published by Indian media outlets. Sridevi was reportedly with husband Boney Kapoor and daughter Khushi in Dubai when she passed away .
It stated that Atwal has also been photographed in India with Indian-origin Brampton South Liberal MP Sonia Sidhu. The car's windows were smashed and Sidhu was shot five times, but survived the assassination attempt.
In the article I wrote last week, Tomas would've been a great addition to the Rays, who are in the middle of a rebuilding process. Martinez, who signed a five-year deal with the Boston Red Sox on Monday, but Souza is under team control for three more seasons.
Again, what gives? Pricing is €100 for the single SIM version and €110 for the dual one - about $123 and $135, respectively. Just like the 1x, the phone also includes 16GB of internal memory that can be expanded, though in this case up to 128GB.
There's nothing concrete out there telling us exactly what Los Angeles gave up to add Peters to the mix. None of those character concerns was evidently enough to dissuade the Rams from making a deal, though.
Kushner's ability to continue to do the very important work he has been assigned by the president", Lowell said last week. Kushner has amended his submission multiple times , delaying his clearance process.
In addition to Neymar's injury, PSG confirmed centre-back Marquinhos suffered a thigh injury against Marseille. The two-time World Cup victor insists, however, Neymar has moved to PSG to win the Champions League.
The University of Kentucky said they reviewed the Yahoo! Ayton started against OR and had 28 points and 18 rebounds in the loss. Bilas also demanded Arizona put Miller on administrative leave and bench Ayton until the matter can be investigated fully.
The recent shooting in Parkland, Fla., was relatively unique in that the shooter did purchase firearms legally, Edwards said. The retailer also said it would no longer sell assault-style rifles or high-capacity magazines.
The New York Times reports Apollo Global Management, a private equity firm, lent $184 million to Kushner Companies in November. But things haven't been going well for Kushner of late - with his security clearance getting downgraded last week.
De Leon has billed himself has a more progressive politician than Feinstein offering a fresh outlook to the party. Since neither candidate reached a 60 percent threshold, the party is withholding an endorsement in this race.
MetLife Inc . - The insurer terminated discounts that had been offered to NRA members on the NRA website Enterprise Holdings Inc . However, Trump has also called for raising the minimum age for purchasing semi-automatic rifles, a move the NRA opposes.
Not only did List post the best round of the day at four-under par , but he did so on the strength of a bogey-free back nine. He did it battling a brutish course in wintry, blustery winds, on "scratchy" and "dicey" greens that made par a good score.
Compensatory picks were previously not allowed to be traded, until a rule change allowed dealing such picks starting in 2017. The Cincinnati Bengals , Green Bay Packers and Oakland Raiders were also granted four compensatory picks.
Fox News said the dead woman's daughter, Octavia Poellnitz, said there was was bad blood between her mother and and Mr Hollie. Police identified her ex-husband, Robert Hollie, as a person of interest and set up a perimeter around his Toulminville home.
Although Spotify has yet to show off or even confirm any hardware in the works, the listings seem to point to a smart speaker. It launched HomePod into a market already dominated by Amazon's Echo speakers, with the Google Home range in second place.
The charity formally also apologised to Haiti on Monday over the scandal and for failing to report the matter adequately. Goldring said the allegations would spur Oxfam to do better in the future. "I do not defend decision", said Goldring.