Dow falls 550 points, dragged down by Target and concerns over retail

NEW YORK Nov. 21 2018- Traders work at the New York Stock Exchange in New York the United States Nov. 20 2018. U.S. stocks plunged on Tuesday with the Dow erasing more than 500 points amid

NEW YORK Nov. 21 2018- Traders work at the New York Stock Exchange in New York the United States Nov. 20 2018. U.S. stocks plunged on Tuesday with the Dow erasing more than 500 points amid

Most large technology companies dropped again, including Apple and Microsoft, which shed 4.8% and 2.8% respectively.

The large-company stock index, considered a proxy for the health of the broader market, briefly dipped 10 percent below its September 20 high, putting it back in so-called "correction territory".

The S&P 500 index fell 47 points, or 1.8 percent, to 2,688 as of 3:40 p.m.

The Standard & Poor's 500 index slid 45.54 points, or 1.7%, to 2,690.73.

The S&P 500 index fell 53 points, or 1.9 percent, to 2,683.

Kohl's and Macy's, also big retailers, plunged 9.23 percent and 3.42 percent respectively.

The Dow lost 395 points, or 1.6 percent, to 25,017. Boeing gave up 4.5 percent to $320.94, but is still one of the best-performing stocks in the 30-stock index. Microsoft fell 3.4% to $104.62.

The volatility, in what is a short trading week due to Thanksgiving, erased yearly gains for the Dow and the S&P 500, with the Nasdaq Composite on the cusp. Its stock price erased almost 4 percent on Monday at close after reports said the company cut production of orders for the new iPhones that came out earlier this year.

Nissan said Ghosn and another senior executive, Greg Kelly, were accused of offenses discovered during an investigation set off by a whistleblower. Japan's benchmark Nikkei 225 rose 0.7 percent and Hong Kong's Hang Seng added 0.7 percent.

Range Rover Evoque previewed with art sculptures
To the end of October, Land Rover has sold 1183 examples of the Evoque, a 52.8 per cent skid over the same period previous year . At present, there is no confirmed date of the new Evoque's arrival in India.

Benchmark U.S. crude lost 7 percent to $53.23 a barrel in NY.

The jittery trading came after two days of gains last week as investors hoped that the US and China were moving closer to settling their costly trade fight, which has been a major uncertainty for the market.

Facebook, Amazon, Apple, Netflix and Google's parent company Alphabet - known collectively as "FAANG" - all closed down more than 20 percent from their 52-week highs, placing them in bear market territory.

Brent crude, used to price global oils, was little changed at $66.79 a barrel in London.

Investors fretted about overvalued tech stocks, rising interest rates, a slowdown in global growth and an ongoing trade fight between the USA and China.

Target skidded 10.2 percent to $69.27 after it said its growing investments in its online business and in stores are bringing in shoppers, but are affecting its profits.

Last Thursday, the U.S. Defense contractor Raytheon lost 3.2 percent to $176.18. The Nasdaq lost 133 points, or 1.9 percent, to 6,893. Silver inched up 0.1% to $14.40 an ounce.

The dollar rose to 112.80 yen from 112.54 yen. The euro rose to $1.1453 from $1.1412. South Korea's Kospi gained 0.4 percent.

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