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• Stocks fell sharply on Thursday in a second straight scary day on Wall Street as investors dumped equities around the globe because of fears of rapidly rising interest rates, a possible global economic slowdown and overly ambitious tech valuations.
The Dow Jones Industrial Average closed 545.91 points lower at 25,052.83, bringing its two-day losses to more than 1,300 points. The S&P 500 dropped 2.1percent to 2,728.37 and posted its sixth straight decline. The broad index also closed below its 200-day moving average for the first time since April. The Nasdaq Composite pulled back 1.3 percent to 7,329.06 and briefly entered correction territory at its lows on Thursday.
The Dow fell as much as 698.97 points at its lows of the day. The indexes bounced after a report said President Donald Trump and Chinese President Xi Jinping would meet at next month's G-20 summit, briefly giving traders hope a full-blown trade war with the country could be avoided.
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• European shares hit their lowest in more than 21 months on Thursday following a slide on Wall Street as jitters over rising U.S. Treasury yields and signs of slowing global growth prompted broad selling of risky assets.
The pan-European STOXX 600 benchmark index was down 2 percent to its lowest level since the end of December 2016, suffering its worst day since June25. It has lost 4.5 percent so far this week.
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• Asia stocks were mixed on Friday morning following another tumble on Wall Street overnight, with the Dow Jones Industrial Average dropping by more than 500 points.
In Japan, the Nikkei 225 slipped by 0.3 percent in early trade while the Topix index fell by 0.42 percent, as most sectors trended lower.
Over in South Korea, however, the Kospi bucked the overall trend of the morning to trade up by 0.33 percent, with heavyweight SK Hynix advancing 2.17 percent.
Reference: Reuters, CNBC
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