Friday, Feb 26 2021 | Time 05:40 Hrs(IST)
image
  • US Stocks Plunge in Worst Day for Nasdaq in 4 Months
  • Two women killed in road accident
  • One arrested for issue of fake Covid test report for overseas employment
  • Decomposed body of man found in Palghar
  • 14 goats killed in wolf attack in Nashik
  • Covid-19: 601 new cases detected in Nashik
  • US Must Treat China as Rival, Trade Partner - Trade Representative Nominee
  • Clashes Between Protesters, Police in Iraq Leave 1 Person Killed, 14 Injured - Reports
  • UN Chief Extends Mandate of Special Tribunal for Lebanon Until March 2023 - Spokesman
  • Four arrested for youth's murder in Kolhapur
  • Biden, Johnson Receive Letter With Request to Lift Sanctions Against Syria - Nebenzia
WorldPosted at: Feb 26 2021 4:43AM


US Stocks Plunge in Worst Day for Nasdaq in 4 Months

NEW YORK, Feb 25 (Sputnik) Stocks on Wall Street plunged on Thursday, with technology index Nasdaq losing more than 3 percent for its biggest one-day decline since the end of October, as bond yields surged and players took profit on four straight months of gains.
Nasdaq, which includes stocks of tech giants such as Facebook, Apple, Amazon, Netflix and Google, closed down 3.5 percent at 13,119. The index hit a record high of 14,175 last week.
Nasdaq fell came as the yield on US bonds’ benchmark ten-year note surged above the 1.5 percent, a development not seen since February 2020, before the outbreak of the coronavirus pandemic. Bond yields spiked as weekly US jobless claims fell to November lows. The better employment scenario raised expectations that the economy may rebound faster than thought from the COVID-19 pandemic, triggering investor rotation out of pricey stocks into undervalued companies that could benefit from a broader recovery.
Nasdaq was the favorite target of sellers as it had run way ahead of the Dow Jones Industrial Average and the S&P 500. In Thursday’s session, stocks on the Dow and S&P500 appeared relatively more valuable than those on Nasdaq which exhibited grossly-inflated price-earnings ratios.
The Dow, the broadest gauge of the New York Stock Exchange, fell 1.8 percent to 31,402.
The S&P 500, a barometer for the top 500 US stocks, closed down 2.5 percent at 3,829.
SPUTNIK ASN
Tags: #US Stocks Plunge in Worst Day for Nasdaq in 4 Months
More News
PNB scam: UK court orders Nirav Modi's extradition

PNB scam: UK court orders Nirav Modi's extradition

25 Feb 2021 | 5:12 PM

London, Feb 25 (UNI) A UK court on Thursday ordered the extradition of fugitive diamantaire Nirav Modi to India, saying that the accused is also answerable before the Indian courts.

see more..

UK COURT ORDERS NIRAV MODI'S EXTRADITION

25 Feb 2021 | 4:37 PM

UNI JAL SV 1637.

see more..
North Korea's Kim appoints New Navy, Air Force chiefs in 'Generation Shift' in army

North Korea's Kim appoints New Navy, Air Force chiefs in 'Generation Shift' in army

25 Feb 2021 | 2:18 PM

Seoul, Feb 25 (UNI) North Korean leader Kim Jong Un has called for tougher discipline within the army and appointed new chiefs of the navy and the air force as he chaired an enlarged meeting of the central military commission, state media reported on Thursday.

see more..
Facebook bans Myanmar's military from its platforms weeks after coup

Facebook bans Myanmar's military from its platforms weeks after coup

25 Feb 2021 | 1:11 PM

Naypyitaw, Feb 25 (UNI) Facebook has banned the Myanmar military and military-controlled state media from using its platforms weeks after a military coup in the Southeast Asian country that provoked mass violent demonstrations, the company announced on Thursday.

see more..
Netanyahu asks Biden to keep US sanctions on Int'l criminal court officials - Reports

Netanyahu asks Biden to keep US sanctions on Int'l criminal court officials - Reports

25 Feb 2021 | 12:48 PM

Jerusalem, Feb 25 (UNI) Israeli Prime Minister Benjiamin Netanyahu asked US President Joe Biden during a recent phone conversation to keep sanctions on the International Criminal Court (ICC) officials, imposed by the administration of former President Donald Trump, Axios reported, citing Israeli officials.

see more..
image