Join- https://t.me/btctradingclub
Join- https://t.me/freebitmexsignals
https://play.google.com/store/apps/details?id=com.freecryptosignals.app
For more latest news update Crypto currency training Crypto trading signals & automated trading software join above given telegram channel
Stocks Extend Volatile Stretch
All of Wall Street’s major indexes headed for huge losses midweek, with shares of technology and communication services companies leading the declines. The large-cap S&P 500 Index plunged 3.1% to 2,656.16, its lowest since May. Eight of 11 primary sectors finished in the red. Communications services, the index’s latest vertical, sold off 4.6%.
Plunging tech stocks weighed heavily on the Nasdaq Composite Index, which shed 4.4% to finish at 7,108.40. The Dow Jones Industrial Average fell 606.93 points, or 2.3%, to 24,584.50.
Disappointing sales targets from Texas Instruments (TXN) dragged down chipmakers, with Nvidia (NVDA) and Advanced Micro Devices (AMD) posting heavy losses. Shares of AT&T (T) plunged after the telecom giant reported losses in traditional pay TV.
The CBOE Volatility Index, also known as the VIX, spiked 21.8% to 25.23, its highest in six months. The so-called “fear index” usually trades inversely with the S&P 500.
U.S. Economy Gathers Pace
The U.S. economy entered the fourth quarter on solid footing, with manufacturing and services sectors reporting a noticeable increase in growth, according to IHS Markit’s latest batch of PMI data.
Purchasing managers’ indices for both services and manufacturing rose faster than expected this month. The Composite index, which tracks output across the whole economy, rose to 54.8 in October from 53.9 the month before. A PMI reading above 50 signals expansion in economic activity.
“The domestic economy remained the main driver of demand, with exports stagnating amid growing signs of trade being subdued by tariffs,” Chris Williamson, Markit’s chief business economist, said in a press release.
Analysts at the San Francisco Federal Reserve anticipate the U.S. economy grew 3.9% annually in the third quarter, following a stronger than expected 4.2% expansion in Q2. The Commerce Department will publish a preliminary estimate of Q3 GDP this Friday.