U.S. stocks claw back some of their big losses; oil slides

Dow dumps 400 points, on track for lowest close since April

The Dow closed up 82 points, or 0.35 percent, at 23,675.64.

MARKETS OVERSEAS: In Europe, Germany's DAX rose 0.3 percent, while France's CAC 40 dripped 0.3 percent and the FTSE 100 in London dropped 0.6 percent.

Benchmark U.S. crude was up 24 cents at $46.48 a barrel in electronic trading on the New York Mercantile Exchange.

Technology companies helped drive stocks higher Tuesday. The National Association of Home Builders Housing Market Index indicated homebuilder sentiment had fallen to a three-and-a-half-year low.

The pullback seen yesterday afternoon pulled the Dow down to its lowest closing level in over eight months, while the Nasdaq and the S&P 500 dropped to their lowest closing levels in over a year. The Dow has lost more than 1,000 points in two days.

Software, retail, telecom and computer hardware stocks also saw considerable weakness amid another broad based sell-off on Wall Street.

Boeing jumped 3.8 per cent after it boosted its dividend and announced a new share buyback program, while Johnson & Johnson added one percent after announcing a $5 billion share repurchase plan of its own.

Smaller U.S. stocks have taken dramatic losses as investors have lost confidence in the U.S. economy's growth prospects.

North Korea media says denuclearization includes ending 'U.S. nuclear threat'
The move took place ahead of a historic summit with the USA in June in Singapore. But Kim has never made such comments in public.

Trump Turns Up Pressure on Federal Reserve Ahead of Rate Decision
Sohn is forecasting that after expanding almost 3 percent this year, the economy will grow closer to a middling 2 percent in 2019. In addition, interest-rate sensitive sectors of the US economy such as housing and autos are under more pressure.

Huawei Nova 4 with in-display front camera, triple-rear cameras launched
In comparison to Nova 3, Huawei's newest offering brings some exciting features proffering a good value for money proposition. The phone also comes packed with several features like EIS, 4K video support, AI beauty, 3D Qmoji, PDAF, among other things.

Oil prices have dropped sharply as oil supplies increased and demand weakened as the global economy slows down.

Meanwhile, gold stocks were among the few groups to buck the downtrend, resulting in a 2.7 percent jump by the NYSE Arca Gold Bugs Index. Brent crude, used to price worldwide oils, added 34 cents to $56.60 a barrel. That's chopped oil prices by one-third since early October.

Prices for the benchmark for the 10-year U.S. Treasury grew, lowering yields to 2.83% from Monday's 2.86%.

Stock markets around the world posted solid gains Wednesday ahead of an expected interest rate hike from the U.S. Federal Reserve.

FED DECISION: The Fed is widely expected to raise its short-term interest rate after a meeting ends Wednesday.

"At this point, the market is pricing in a material slowdown next year as sentiment and positioning have reached levels not seen since the last recession scare in early 2016", the United States equity strategy team said. The contract, which has fallen nearly 40 percent since October, gave up $3.60 to $46.60 on Tuesday.

In other energy trading, wholesale gasoline shed 1.7 percent to $1.41 a gallon and heating oil slid 1 percent to $1.83 a gallon.

CURRENCIES: The euro was up 0.3 percent at $1.14 while the dollar fell 0.2 percent to 112.38 yen. The British pound rose to $1.2629 from $1.2579.

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