Trade concerns also a catalyst
The UK budget attacked digital companies like Amazon, Google and Netflix saying they will pay taxes on UK-generated revenues. Then Bloomberg reported that the US is preparing to announce by early December tariffs on all remaining Chinese imports if talks between Trump and Xi fail. Boeing had a down day - down -6.59% - on the tariff talks. The Lion Air plane crash was also a Boeing aircraft.
The major indices are closing down. The Dow swung 900+ points on the day and was down over 500 points but rallied into the close and ended up down -245.39 points or -0.99%
The other indices had similar swings. Below are the final numbers:
- The Nasdaq is closing down -116.91 points or -1.63% at 7050.29. The high reached 7295.61.The low extended to 6922.82 before the 128 point rally into the close
- The S&P closed at 2641.25, down -17;.44 points or -0.66% . The high reached 2706.85. The low extended to 2603.54
- The Dows high reached 25040.58. The low reached 24122 and closed at 24442.92.
Big losers today:
- Amazon fell -6.33%.
- Alphabet fell -4.51%
- Boeing -6.46%
- Nvidia -6.39%
- Netflix -5.0%
- Microsoft, -2.91%
- Facebook, -2.26% (reports earnings after the close tomorrow).
- Apple, -1.88%
Financials did better today (relatively)
- PNC Financial, +2.21%
- Wells Fargo, +1.83%
- JP Morgan +.140%
- Goldman Sachs, +0.95%
- Citigroup, +0.20%
Below is a look at the ranges and % changes of the major stock indices in Europe and North America.
