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Bloomberg

US stocks fell 2 per cent on Friday, extending a recent decline that pushed key sectors and segments of the equity market into bear-market territory as concerns mounted over the health of the global economy.
The day’s losses were widespread, with all 11 of the primary S&P 500 sectors in negative territory.

Overall, the S&P was down 51 points (1.91 per cent), the Dow Jones Industrial Average fell 497 points (2.02 per cent), and the Nasdaq was off by 160 points (2.26 per cent).
According to Bloomberg data, more than half the components of the S&P 500 – 259 companies – are now at least 20 per cent below their 52-week highs, putting them below the threshold that signifies a bear market.
Hong Kong’s investor confidence plummets to lowest level in almost a decade
Markets cheer as Huawei CFO is freed on bail, possible tariff cut
Notably, Friday’s decline took the S&P 500 financial sector 20 per cent below a peak reached in late January.
The S&P 500 Energy Sector fell 2.4 per cent on Friday, and is now about 21 per cent below an October 9 peak.
The S&P 500 Materials sector fell 0.8 per cent. The industry is currently off about 20.4 per cent from a January peak, though it had already been trading in bear-market territory, having dropped past the 20 per cent threshold in October.
Other sectors aren’t far from a similar magnitude of declines. The S&P 500 industrial sector is down about 17 per cent from its 52-week high, and technology – a driver behind recent broad-market losses – is 15 per cent below its record. The Dow Jones transport Index, consider a barometer for economic activity, has dropped more than 17 per cent from mid-September.

More broadly, the Russell 2000 index and the S&P Small Cap 600 Index are both down about 19 per cent and the S&P 400 Midcap Index is about 15 per cent lower.
China stocks hit by Huawei spat, trade war, slowing economy
The S&P 500 closed nearly 12 per cent below its record, the Dow Jones Industrial Average less than 11 per cent and the Nasdaq Composite Index about 15 per cent. All three are in correction territory, or off at least 10 per cent from a peak.


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Stocks

US stocks drop 2 per cent in another heavy sell-off, putting major markets in correction territory

A trader works on the floor of the New York Stock Exchange on Friday. Photo: AFP

A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2018. REUTERS/Brendan McDermid

Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., December 14, 2018. REUTERS/Brendan McDermid

Why the trade war will usher in a long, drawn-out bear market, with stocks, bonds, credit and property all at risk

Construction workers nap in front of a wall with a poster of the city’s skyline at a construction site in Beijing, in May 2015. China’s property bubble has begun to unwind, hitting the economy hard. Photo: Reuters

United States Federal Reserve Board Chairman Alan Greenspan waits for the start of his testimony before the U.S. Senate Banking Committee on Capitol Hill in Washington, February 16, 2005. Greenspan told the committee that he was just as puzzled as everyone else about why long-term interest rates have remained low in spite of official rate increases by the central bank. "For the moment, the broadly unanticipated behavior of world bond markets remains a conundrum," Greenspan testified. REUTERS/Jason Reed

Emerging-market stocks are at bargain prices, but should you buy?

Investors talk at a brokerage house in Kaifeng, Henan province. Equities in emerging markets, including China, have become cheap this year. Photo: Reuters

TOPSHOT - Jair Bolsonaro, far-right lawmaker and presidential candidate for the Social Liberal Party (PSL), gestures to supporters during the second round of the presidential elections, in Rio de Janeiro, Brazil on October 28, 2018. - Brazilians will choose their president today during the second round of the national elections between the far-right firebrand Jair Bolsonaro and leftist Fernando Haddad (Photo by MAURO PIMENTEL / AFP)

Business

Money

Markets

Half the components of the S&P 500 – 259 companies – are now at least 20 per cent below their 52-week highs


US stocks drop 2 per cent in another heavy sell-off, putting major markets in correction territory

.css-1mniedq{color:inherit;font-weight:inherit;font-size:inherit;font-family:inherit;line-height:inherit;}Half the components of the S&P 500 – 259 companies – are now at least 20 per cent below their 52-week highs

.css-jfmysa{display:inline;word-break:break-word;}.css-1ankfgb{cursor:pointer;display:inline;word-break:break-word;}Hong Kong’s investor confidence plummets to lowest level in almost a decade

Half the components of the S&P 500 – 259 companies – are now at least 20 per cent below their 52-week highs

Hong Kong’s investor confidence plummets to lowest level in almost a decade