Published: Sun, August 12, 2018
Markets | By Otis Pena

Telecom lifts Nasdaq, Dow and S&P close with modest losses

Telecom lifts Nasdaq, Dow and S&P close with modest losses

The Nasdaq Composite Index increased 3.46 points, or 0.04 percent, to 7,891.78.

The Canadian dollar averaged 76.26 cents USA, down 0.43 of a U.S. cent.

NEW YORK-U.S. stocks slid on Friday as economic dilemma in Turkey dragged on bank stocks and triggered fears that it could spread to other global economies. The Dow Jones Small-Cap Growth TSM Index closed at 10,474.34 for a loss of -18.84 points or -0.18%.

Lam Research, Micron, Applied Materials and ON Semiconductor fell between 1 percent and 4.7 percent.

The Russell 2000 is up 17.52 points, or 1 per cent.

The Turkish lira briefly dropped almost 20 percent against the dollar after US President Donald Trump tweeted that he has authorized the doubling of tariffs on steel and aluminum imports from Turkey.

The Nasdaq inched toward a record on the back of high-flying technology trio of Apple, Amazon and Microsoft, while gains in the Dow and the S&P 500 were limited as energy shares fell.

Argentina lawmakers strike down bill to open abortion law
George Soros has also been a major player in the financing of pro-abortion lobbyists through his Open Society foundations. The movement Ni Una Menos, or Not One Less, was launched in the country in recent years to fight violence against women.

S&P 500 e-minis were up 3.75 points, or 0.13 percent and Nasdaq 100 e-minis were up 4.25 points, or 0.06 percent.

"Today's impact has set the markets in a temporary risk-off sentiment", said Matt Forester, chief investment officer of BNY Mellon's Lockwood Advisors.

Markets in Europe were also turbulent with Germany's DAX falling two percent, French CAC 40 falling nearly two percent, and Britain's FTSE 100 declining 0.8 percent.

Shares of trade-sensitive companies also declined, including Boeing, 3M and Caterpillar, which were all down at least 1.4 percent.

The Russell 2000 is up 151.29 points, or 9.9 per cent.

Oil prices were down slightly as the escalating China-U.S. trade dispute cast doubt on the outlook for crude demand.

Declining issues outnumbered advancers for a 1.63-to-1 ratio on the NYSE and for a 1.06-to-1 ratio on the Nasdaq. That compares with the 6.3 billion daily average for the past 20 trading days, according to Thomson Reuters data.

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