Dow tumbles 362 points as health care stocks drag on Wall Street

E-mini S&P 500 Index
Daily March E-mini S&P 500 Index
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31 January, 2018

The Dow Jones Industrial Average lost 362.59 points, or 1.37 percent, to 26,076.89. The move lower for stocks comes as borrowing costs, by virtue of the 10-year Treasury yield, climbed to its highest level in more than three years on Monday. The VIX uses bullish and bearish option bets on the S&P 500 index to reflect expected volatility over the coming 30 days, and it typically rises as stocks fall.

Traders are paying up for near-term protection, remaining relatively sanguine over the trajectory for the next months, as the S&P 500 is suffering its first back-to-back declines of more than 0.5 percent since November 2016.

Energy stocks also declined as crude oil prices fell.

Train Derails Near Milan, Killing at Least 3 and Injuring Dozens
No less than two autos from the center of the train got off the rails and were left remaining at a point. The train's operator, Trenord, said in a tweet that a "technical problem" caused the incident.

Chelsea ready £44m bid for Roma pair Edin Dzeko and Emerson Palmieri
Club policy usually dictates that incoming players, or players now in the squad, aged 30 or over are only offered one-year deals. The 28-year-old has been impressive in recent seasons but isn't exactly the calibre of player which Chelsea should be signing.

Dragon Ball FighterZ is great nostalgia shackled by repetitive battles
The first one is Dragon Ball FighterZ's launch trailer, which shows the game's insane action in all its unadulterated glory. This free update will also include the "Awaken" skill, allowing player avatars to reach the Super Saiyan Blue form.

UnitedHealth Group was the heaviest drag on the Dow, down 4.3 percent. Among earnings, Pfizer shares fell 3 percent. The stock is down 8.8 percent.

Harley-Davidson was down 7.8 percent after forecasting a drop in motorcycle shipments this year. The S&P health sector tumbled 1.6 percent, the most among the 11 major sectors. Apple was down another 0.6 percent, still feeling the effects of news that the company will halve production of its $999 iPhone X smartphone.

Tonight, U.S. President Donald Trump's first State of the Union address, which is likely to tout the strong economy, will be scrutinized for clues on trade policy and infrastructure spending. The Nasdaq Composite Index was down 64.02 points, or 0.86 percent, to 7,402.48.


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