Despite that, the tone on Wall Street was likely to be driven by the news coming out of Washington. The S&P 500 index fell 1.8% to 2,357.03, and the Dow industrials 1.8% to 20,606.93, both suffering their worst sessions since Sept. 9. Wal-Mart Stores Inc.(WMT) dropped moderately as earnings beat Wall Street forecasts, but revenue fell slightly short (http://www.marketwatch.com/story/wal-mart-earnings-beat-estimates-but-sales-miss-2017-05-18). Read:Bernanke says he's always 'puzzled' by way markets ignore political risk until 'last moment' (http://www.marketwatch.com/story/bernanke-always-puzzled-by-way-markets-ignore-political-risk-until-last-moment-2017-05-17)Overseas markets: Global stocks fell Thursday in the wake of the U.S. selloff. Read:Cisco shows effects of Trump uncertainty (http://www.marketwatch.com/story/cisco-shows-effects-of-trump-uncertainty-2017-05-17)Alibaba Group Holding Ltd.(BABA) fell 3.8% after earnings fell short of expectations.
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Earlier US stocks had hit record highs on the back of Trump's pro-business and government spending pledges. Meanwhile, expectations about a US Federal Reserve interest rate hike are waning. Investors expect a similar scenario to 2016 when China's turmoil derailed the Fed's 2016 interest rate hike path. A few days ago a new controversy rose when Trump reportedly disclosed classified information to Russia's foreign minister. Japanese facebook/" target="_blank">shares are particularly in red territory as the weakening US dollar gives rise to a strong yen, implying Japan's export-oriented stocks become unattractive.
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collected by :Jack Luxor
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Earlier US stocks had hit record highs on the back of Trump's pro-business and government spending pledges. Meanwhile, expectations about a US Federal Reserve interest rate hike are waning. Investors expect a similar scenario to 2016 when China's turmoil derailed the Fed's 2016 interest rate hike path. A few days ago a new controversy rose when Trump reportedly disclosed classified information to Russia's foreign minister. Japanese facebook/" target="_blank">shares are particularly in red territory as the weakening US dollar gives rise to a strong yen, implying Japan's export-oriented stocks become unattractive.
read more visit us Money
collected by :Jack Luxor
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