Markets

Markets Right Now: Stocks drift lower on Wall Street

Markets Right Now: Stocks drift lower on Wall Street

US stocks closed lower for the third day in a row Thursday, led by declines in technology companies and banks, two of the highest-performing sectors over the a year ago.

Following the sell-off seen in the previous session, stocks may regain some ground in early trading on Friday.

Most large-cap stocks fell across the board.

Tensions between North Korea and the US have intensified in recent days after Trump warned of severe retribution should the authoritarian state proceed with any more missile tests or threats. But by the end of the day, traders appeared to take the geopolitical drama in stride.

On average, the S&P 500 falls 5% or more every 10 weeks and the index falls 10% every 33 weeks, according to data analyzed by AllianceBernstein going back to 1928. Earlier, the average had been down more than 88 points. The Nasdaq composite lost 37 points, or 0.6 percent, to 6,332. While the German DAX Index has edged down by 0.1 percent, the French CAC 40 Index and the U.K.'s FTSE 100 Index are both down by 1 percent. The major index futures are now pointing to a modestly higher open for the markets, with the Dow futures up by 21 points.

The Dow is down 248.80 points, or 1.1 percent.

Market bellwether Samsung Electronics Co. backtracked 2.79 percent to 2,231,000 won, and No. 2 chipmaker SK hynix Inc. was down 4.66 percent to 61,400 won.

Arsenal braced for edgy Premier League season as Leicester City target stability
Guide "Gunners" are ready to make a player the highest paid player in Arsenal but in the entire Premier League . Asked if any bids had been lodged for Sanchez, the Frenchman replied: " I can't tell you that at the moment.

Priceline Group slumped 6.5% after issuing a profit forecast that was weaker than analysts were expecting. The stock lost $142.20, to $1,906.80.

Disney dropped 4.5% after reporting a weak quarter and saying it would pull its movies from Netflix and start two of its own video streaming services. MetLife fell 75 cents, or 1.6 percent, to $47.56, while Charles Schwab slid 69 cents, or 1.6 percent, to $41.33.

Shares in several other big media companies also declined.

The Russell 2000 is up 15.41 points, or 1.1 percent. The company booked a hefty charge and said its CFO is leaving the company. The stock lost $2.97, to $8.87. Consumer-focused companies and technology stocks slumped.

OIL: Benchmark U.S. crude gained 13 cents to $49.69 a barrel on the New York Mercantile Exchange. Brent crude, used to price worldwide oils, added 21 cents to $52.91. The yield on the 10-year Treasury note fell to 2.22 percent from 2.26 percent late Tuesday. Copper fell 2 cents, to $2.93 a pound. The euro fell to $1.1735 from $1.1752.

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