Listen: John Tucker, Bloomberg And Federal Reserve discussed on Bloomberg Business of Sports with Scott Soshnick and Michael Barr
"I'm John Tucker from Bloomberg world headquarters US stocks plunged in front session. Capping the worst week for the s&p five hundred index since March this came as the Trump administration pressed its trade war with China and the latest batch of economic data added to concern that growth has peaked oil did rise after OPEC agreed to cut output. The Dow Jones industrial average shed over five hundred points bringing its decline in the abbreviated trading week to over one thousand points five funded finished the week down four point six percent that the trade outlook appear to take a negative turn editor Wally technologies chief financial officer was trying with conspiracy. Also had the Federal Reserve's Lyle Brainerd striking a hawkish tone at comments at a conference PGM CEO. David Hunt says his clients are making changes to their portfolios based on a changing global condition as well as monetary policy. The era of easy fiscal policy is coming to an end, and we can argue about the exact timing of that. And how quickly that happens? But no question conditions are tightening Invidia and Advanced Micro Devices tumbled more than six percent as chipmakers cratered utilities. They were the only s and p five hundred group to rise and his rate futures. Put the profitability of a Federal Reserve rate increase at its December eighteenth nineteenth meeting above seventy percent. We had Netflix Amazon and alphabet sinking at least three percents elite losers along the mega cap tech shares once again, the S and P five hundred end of the session down sixty two points to end up at twenty six thirty three. The Dow was down five hundred fifty eight points to end twenty four thousand three hundred eighty eight NASDAQ down two hundred nineteen points at sixty nine sixty nine global news twenty four hours a day on your hand at tick tock on Twitter, powered by more than twenty seven hundred journalists and analysts in more than one. Hundred twenty countries, I'm John Tucker. This is Bloomberg. This is."