Samuel Potter Bloomberg News Published 11:43 AM EST Dec 6, 2018 The sell-off in global stocks deepened, taking U.S. financial shares to a 15-month low, as concern mounted that the rate of global economic growth has peaked. Oil slid as OPEC ministers met in Vienna. The Dow Jones Industrial Average sank more than 600 points, European stocks headed for a two-year low and emerging-market equities sank almost 3 percent on bets that the truce between China and the U.S. won’t last after the arrest of Huawei’s chief financial officer. The 10-year Treasury yield plunged to the lowest since August amid a flood of buying on haven demand. Gold rose while industrial metals tumbled. The yuan dropped the most since October. The dollar slumped. “The biggest qualm is the trade war escalating and this is haunting the markets,” said Naeem Aslam, chief market analyst at Think Markets U.K. in London, in an email. “It is arduous to find bulls in the market and it seems … [Read more...] about Stock rout deepens with banks leading latest drop
Stock route
Stock rout erases ’18 gains for S&P, Dow indexes
Vildana Hajric Bloomberg News Published 9:54 PM EDT Oct 24, 2018 The sell-off in U.S. stocks accelerated Wednesday, wiping out gains for the year in both the S&P 500 Index and the Dow Jones Industrial Average, as mixed corporate earnings and weak housing data fueled anxiety that rising prices will crimp economic growth. Treasuries rallied for a second day on demand for haven assets. The S&P extended its October rout to 8.8 percent, making it the worst month since February 2009. Disappointing earnings from AT&T and Texas Instruments drove declines in the communications and semiconductor groups, offsetting a promising outlook from Boeing. The Dow tumbled 600 points, and the Nasdaq Composite Index lapsed into a correction. “This is really off the walls,” said Donald Selkin, chief market strategist at Newbridge Securities. “Nothing fundamentally changed during the day. I think it’s a technical breakdown. Look at the Nasdaq — down 300 … [Read more...] about Stock rout erases ’18 gains for S&P, Dow indexes
Best driving routes: Maneybhanjang to Sandakphu
India is infamous for its shabby roads but at the same time, there are many fantastic driving roads spread through the length and width of our beautiful country. OVERDRIVE has been fortunate enough to experience quite a few of these roads, and we want to share the joy with a weekly feature of a fantastic road that you should aspire to experience someday. While most of the Best Driving Roads that we feature involve smooth tarmac and breathtaking views, the route we've selected this week is a bit of a departure from the norm. Maneybhanjang-Sandakphu is a 31km, 6,000ft route that also forms the border between India and Nepal. Essentially a pony trail, it ranks as one of the most challenging roads in India, replete with rocky surfaces, steep inclines and narrow sections with the mountain face only centimeters away from the car. Given how challenging the road is only 4x4 vehicles ply on this route. The Land Rover Series 1 is one such vehicle that has been ferrying people and essential items … [Read more...] about Best driving routes: Maneybhanjang to Sandakphu
Australian liquid fuels stocks up for assessment, as reserves sit below 50 days
Our storage is only just above half what's required by the International Energy Agency Josh Frydenberg, Minister for the Environment and Energy, has announced plans to assess Australian liquid fuel security for the first time since 2011.As a member of the International Energy Agency (IEA), Australia is obliged to hold 90 days worth of crude oil, liquified-petroleum gas, petrol, diesel and aviation fuel in reserve.Why? Given we're an import-dependent nation, political unrest or conflict in OPEC nations, or supply-route blockages could have a huge impact on the fuel available locally.Liquid fuels like those listed above are crucial: in an opinion piece published in Fairfax newspapers, the Minister says they account for 37 per cent of our total energy use, and 98 per cent of our transport needs.Right now, Frydenberg writes, we import three quarters of our crude oil and 55 per cent of our refined fuel. Malaysia is our largest crude supplier, while South Korea is our biggest … [Read more...] about Australian liquid fuels stocks up for assessment, as reserves sit below 50 days
JEGS Backing Route 66 NHRA Event
GLENDORA, Calif. – JEGS, one of the largest high performance automotive equipment retailers in the United States, has reached an agreement with NHRA as the title-rights sponsor for the NHRA Mello Yello Drag Racing Series event taking place at Route 66 Raceway outside of Chicago. The JEGS Route 66 NHRA Nationals will take place on May 31-June 3 and will feature competition in all four professional categories. The entitlement builds upon the involvement by the organization as the JEGS Allstars specialty race will take place on Saturday, June 2. This race-within-a-race will pit the top points earners from NHRA’s seven geographic divisions of the NHRA Lucas Oil Drag Racing Series and four Top Alcohol regions against each other in the culmination of a yearlong points battle. Competitors in Top Alcohol Dragster, Top Alcohol Funny Car, Comp Eliminator, Top Sportsman, Top Dragster, Stock Eliminator, Super Comp, Super Gas, Super Stock, and Super Street will compete for team and … [Read more...] about JEGS Backing Route 66 NHRA Event