THE DAILY REPORT
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EUR DE CPI – 17:00
EUR Industrial Production 20:00
Major Bloomberg & Reuters News
Wall St. extends slide with trade and rates in focus
Wall Street indexes continued their slide in Thursday’s volatile session as investors worried about rising interest rates and braced for a trade war hit to corporate earnings a day ahead of the quarterly reporting season kickoff.
In its sixth consecutive day of declines, the S&P closed down 2.1 percent after shedding 3 percent in Wednesday’s session. But at its session low the benchmark fell 2.7 percent to its lowest level since early July.
The Nasdaq narrowly avoided confirming a correction. During the session it fell as much as 10.3 percent from its Aug. 29 closing record high but ended the day 9.6 percent below the record.
Call 'em crazy, but Fed officials likely to keep raising rates
‘Trump repeats threat of more tariffs if China retaliates on trade ‘
A stock sell-off, rising trade tension with China, slower global growth and verbal pressure from the White House are unlikely to dent the U.S. Federal Reserve’s rate hike plans in an economy performing in line with the central bank’s forecasts.
(Times In AEST)
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