USA stocks dive as trade jitters return

Traders work on the floor of the New York Stock Exchange. Dec. 3 2018. Brendan McDermid Reuters

Hong Kong's Hang Seng index fell 1.6 percent to 26,840.74 points and the Shanghai Composite Index lost 0.7 percent to 2,647.55. The Nasdaq Composite dropped 33.57 points, or 0.45 per cent, to 7,407.95 at the opening bell. The VIX Volatility Index was higher at 20.59 for a gain of 4.15 points or 25.24%.

Stocks had rallied on Monday following a truce between U.S. President Donald Trump and Chinese President Xi Jinping on their trade dispute following weekend talks in Argentina, but investor optimism over a resolution faded on Tuesday. The yield on five-year Treasury bonds has fallen below the yield on a three-year bond for two days running, meaning that U.S. investors are being paid more to hold government debt that matures in three years than in five years. The yield on the 10-year Treasury note fell to 2.91 percent from 2.99 percent late Monday, a large move. The expectation did not keep the price of oil from falling, however, as investors focused on the potential economic disruption from any escalation in the U.S. The S&P 600 closed at 925.06 for a loss of 44.71 points or -4.61%.

The Dow is down 511.39 points, or 2 percent. The Dow Jones Small-Cap Value TSM Index closed at 9,422.71 for a loss of 362.23 points or -3.70%. Though the S&P 500 Index closed higher on the suspension of tariff escalation, futures retreated Tuesday.

Chipmakers were among the biggest decliners in a technology sector slide. Toll Brothers also gave weaker-than-expected guidance for 2019, citing a slowing housing market.

The Russell 2000 is down 52.51 points, or 3.4 percent. Hovnanian Enterprises led most builders lower, giving up 10.3 percent to $1.10.

In a medical first, baby born from a deceased donor uterus transplant
In this case the 61 year old donor was alive and well at the time, generously giving up her uterus for the cutting-edge operation. Deceased donor uterus transplants have been attempted in the past few years, but none resulted in the birth of a healthy baby.

Luxembourg aims to make all public transportation free by 2020
European Union's wealthiest country, Luxembourg, has made history after announcing plans to make public transport free in 2020. Sandwiched between France, Belgium and Germany, from which nearly 200,000 people enter it daily to work, the Guardian reports.

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The Duke and Duchess of Cambridge with Prince George and Princess Charlotte. "It'll be really special". The memorial fund "aims to fight poverty in Uganda through education".

The Nasdaq is down 172.11 points, or 2.3 percent.

Apple lost 2.2 percent and Bank of America slumped 3.7 percent.

AutoZone climbed 5.6 per cent to $870.65 after the auto parts retailer delivered third-quarter earnings that exceeded analysts' forecasts. Benchmark U.S. crude gained 0.6 percent to settle at $53.25 per barrel in NY. Brent crude, used to price worldwide oils, dropped $1.48 to $60.08 per barrel.

The dollar weakened to 113 yen from 113.69 yen late Monday. The euro was flat at $1.1345.

European markets fell on Tuesday, with Germany's DAX losing 1.1 percent and France's CAC 40 dropping 0.8 percent. The FTSE 100 index of leading British shares slid 0.6 percent. Australia's S&P/ASX 200 lost 0.2 percent to 5,657.70, while South Korea's Kospi sank 1.6 percent to 2,068.69. Brent crude, used to price worldwide oils, lost 63 cents to $61.45 per barrel in London.

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