FIRST AIRED: October 19, 2018

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:01
>> The list of things for global investors to worry about just keeps on getting longer. Stock markets around the world took another nasty fall Thursday, the US Dow Jones Industrials dropping more than 300 points and and the tech heavy NASDAQ suffered another beating. Reuters stock market correspondent, Lewis Krauskopf.
00:00:19
>> Today, earnings were rather lackluster. You had Textron and United Rentals come out with reports that were disappointing, and you've seen those stocks sell off today. That's one of the things that's dampening sentiment for stocks. You have concerns over Italy's budget that's raising yields there, that's leading to some concerns.
00:00:37
You have concerns about China's stock market continuing to slide.>> Add those all up and you have investors worried that the global economy has seen its best days. But the jitters don't end there. A tweet from Treasury Secretary Steve Mnuchin announcing he would not be attending a big financial conference in Saudi Arabia amid global outrage over the disappearance, and likely death of a Washington Post columnist and Saudi dissident, fueling concerns about future sales of US defense equipment to the Saudis.
00:01:08
In response investors slapped a for sale sign on defense stocks like Lockheed Martin and Raytheon. Lingering worries about the rise of interest rates dogged home building stocks sending Toll Brothers, Lennar and Pulte Homes to lows not seen in well over a year.>> Well this is all in context with last weeks steep pull back in stocks, and now we're in this sort of newly volatile environment for the stock market, where we're seeing bigger swings than we had in previous months.
00:01:35
>> And those swings have increasingly been to the downside. Thursday's drop brings Wall Street to a key technical level that indicates more selling may be coming.