Business News

6 things you need to know today

  • Overnight, the Dow Jones plunged by 1,068, or 4.6 per cent to 24,344, in its biggest one-day loss in history. Since Friday, the Dow has plunged by more than 1,700 points in two trading days. The S&P 500 fell 4.1 percent — its biggest one day decline since August 2011— to close at 2,648.94. The Nasdaq composite also dropped 3.8 percent to 6,967.53. To Europe, and the FTSE fell 1.5pc to 7,335, and the DAX -0.8pc at 12,687.
  • It’s a big day for data in Australia. December retail sales numbers will be released in the morning, giving an update on the strength of the Aussie consumer and retail industry over the Christmas period. Later, the RBA board will give its first interest rate announcement of 2018, with expectations the rate is unlikely to budge.
  • Rioting and looting have taken place in Philadelphia as fans celebrated a historic Super Bowl win on Sunday. Pictures and videos shared on social media showed chaotic scenes as tens of thousands of Philadelphia Eagles' fans rejoiced. A police officer is among those reported injured. Cars and shopfronts have been damaged and looted.
  • Elon Musk’s red 2008 Tesla Roadster is about to be launched into space. SpaceX is launching its supercharged Falcon Heavy rocket on Tuesday, from the Kennedy Space Center in Florida. If it works, Falcon Heavy will be the most powerful rocket system in use today. The rocket will carry Musk’s vehicle in a stunt that’s meant to demonstrate how the company might someday help deliver people into space.
  • Bitcoin plummeted to below $US7,000 for the first time since mid-November today, as the global regulatory crackdown continues to weigh. UK banks are following their US counterparts in banning crypto transactions on credit cards, while China also clamps down on offshore virtual currency trading.
  • Russian and Syrian jets bombed towns and villages across north-west Syria on Monday, devastating civilian areas and forcing new waves of refugees to flee. Two major hospitals were struck and dozens of residential buildings destroyed. The raids followed the downing of a Russian fighter jet over the province on Saturday.

Published on: Tuesday, February 06, 2018

blog comments powered by Disqus

New on Switzer