Shares run in Asia after Wall Street sales

  Trade customers work on the floor at the end of the Dow Industrial Average on the New York Stock Exchange on October 24, 2018 in New York Image Copyright
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Asia shares have joined a global sale -off after a blow increased on Wall Street as so two of the three main indices erase its winnings for the year.

Tokyo shares dropped more than 3%, while the losses pushed Dow Jones Industrial Average and S & P 500 into negative territory for the year.

Technical stocks were also hit, with the Nasdaq Index having the worst day since 201[ads1]1.

Dow Jones Industrial Average dropped 2.4% to 24.583.4 points, while the S & P 500 dropped to 3.1 % to 2,656.1 points on Wednesday.

The technology-based Nasdaq dropped more than 4.4% to 7.108.4 points among concerns about weak business performance and global trade tensions.

It was the worst day since 2011 for the index, which is now 10% lower than September peak and in "correction" territory.

Even technology companies, which have driven a lot of market gains this year, did not escape sales, with Amazon falling 5.9%, Facebook down 5.4%, Google owns the Alphabet 4.8% and Netflix declining 9.4%. [19659005] Stephen Innes, ODA trading partner, said in a research note that the technology sector had previously been regarded as "impenetrable to weaker global growth, but escalating trade tensions between the US and China are still eradicating sectors."

Investment Anxiety Rises

Wednesday's loss marked a sixth day with a decline in S & P and followed turbulence earlier in October.

Dow is now on its way for its worst month since May 2010.

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Kiernan Shipka stars in Chrill Adventures of Sabrina on Netflix whose stocks dropped almost 10 % on Wednesday

Investors were also spooked by figures on Wednesday showing that new home sales fell last month to their slow pace for almost two years.

They stressed other reports that indicate that the US housing market is weakening – a concern given that the sector is seen as a bellwether of economic health by many.

Investors have also grown nervous as China's growth is slowing down and companies report higher costs due to labor shortages and tariffs.

These forecasts hit companies like Caterpillar, down 5.6% and 3M, out 4.2%. The decline in composition decreases on Tuesday in the wake of disappointing results.

Nate Thooft at Manulife Mutual Funds said: "Costs increase and it is often tariff-free. We have also reached a potential peak for earnings – companies showing marginal weaknesses a blow."

Adding the feeling of unrest was a a range of raw mail bombs and suspicious packages sent to prominent Democrats and critics by President Donald Trump, including Barack Obama and Hillary Clinton, less than fourteen days before mid-term elections.

Jack Ablin at Cresset Wealth Advisors said the sale seemed to be "emotionally" driven and added: "Maybe it's just a ratcheting up of chaos."

Reporting of the BBC's Natalie Sherman

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