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US stocks tumble again after weak JPMorgan earnings

US stocks opened sharply lower Friday, following European markets downward and retreating on a disappointing earnings report from Wall Street banking giant JPMorgan Chase. Five minutes into trade, the Dow Jones Industrial Average fell 112.39 points (0.70 percent) to 16,057.83. The broad-based S&P 500 tumbled 12.88 (0.70 percent) to 1,820.20, while the tech-rich Nasdaq Composite Index sank 43.71 (1.08 percent) to 4,010.39.

Tokyo stocks fall 2.31% by break

Tokyo stocks dropped 2.31 percent Friday morning, leading a fall on Asian markets after Wall Street suffered big losses on concerns about the valuations of high-flying technology companies. The benchmark Nikkei 225 index lost 330.47 points to 13,969.65 by the break, while the Topix index of all first-section shares was down 1.20 percent, or 13.75 points, to 1,135.74.

Dollar edges up in Asian trade

The dollar on Friday clawed back some of the losses suffered against the yen earlier in the week as investors welcomed data showing US jobless claims at a seven-year low. In midday Tokyo trade, the greenback changed hands at 101.64 yen, compared with 101.44 yen in New York. The euro rose to 141.23 yen from 140.88 yen while it also edged up to $1.3894 from $1.3888. Dealers said the dollar was consolidating after hitting a three-week low of 101.33 yen at one stage Thursday as shares on Wall Street tumbled and US Treasury bond yields sank.

China inflation accelerates to 2.4% year-on-year in March

China's inflation rate accelerated to 2.4 percent year-on-year in March, the government said Friday. The increase in the consumer price index announced by the National Bureau of Statistics was up from the 2.0 percent recorded in February, but marginally below economist forecasts of 2.5 percent reported by Dow Jones Newswires. wf-kgo/slb/dan

Tokyo stocks fall nearly 3% in opening trade

Tokyo stocks lost nearly three percent in opening trade Friday, after New York shares suffered big losses on concerns about the valuations of high-flying technology companies. The Nikkei 225 index lost 2.88 percent, or 411.32 points, to 13,888.80 in the first few minutes of trade. "Japan stocks will fall in sympathy (Friday) with their overseas counterparts and there is increasing anxiety about a broader pullback in US shares after such a long run-up," said Tokai Tokyo Research Center senior global strategist Mutsumi Kagawa.

Business Highlights

___ Biotech drops again, pulling down market NEW YORK (AP) — Biotech stocks tumbled again Thursday and the broader market followed. After a two-day respite, investors again started dumping shares of cutting-edge drug companies and other industries that have soared over the past year. But biotechnology stocks have turned volatile in recent weeks as regulators scrutinize the cost of their drugs and investors worry their earnings won't justify lofty stock prices.

Tech stocks lead market rout; Nasdaq plunges 3.1%

The tech-rich Nasdaq Composite Index Thursday led US stocks sharply lower as anxiety about pricey technology equities returned with a vengeance and dragged down the broader market. At the closing bell, the Nasdaq tumbled 129.79 points (3.10 percent) to 4,054.11. The Dow Jones Industrial Average sank 268.31 (1.63 percent) to 16,168.87, while the broad-based S&P 500 fell 39.10 (2.09 percent) to 1,833.08. jmb/vs

Dovish Fed minutes send US stocks up more than 1%

Wall Street stocks Wednesday bolted higher with tech equities leading the way after US Federal Reserve minutes showed no support for an early rise in interest rates. The Dow Jones Industrial Average jumped 181.04 (1.11 percent) to 16,437.18. The broad-based S&P 500 advanced 20.22 (1.09 percent) to 1,872.18, while the tech-rich Nasdaq Composite Index soared 70.91 points (1.72 percent) to 4,183.90.

Dovish Fed minutes send US stocks up more than 1%

Wall Street stocks Wednesday bolted higher with tech equities leading the way after US Federal Reserve minutes showed no support for an early rise in interest rates. The Dow Jones Industrial Average jumped 181.04 (1.11 percent) to 16,437.18. The broad-based S&P 500 advanced 20.22 (1.09 percent) to 1,872.18, while the tech-rich Nasdaq Composite Index soared 70.91 points (1.72 percent) to 4,183.90.

US stocks score gains in opening trade

US stocks opened firmly in positive territory on Wednesday after an encouraging financial report from Alcoa unofficially kicked off first-quarter earnings season. Five minutes into trade, the Dow Jones industrial Average rose 63.97 points (0.39 percent) to 16,320.11. The broad-based S&P 500 advanced 5.28 (0.29 percent) to 1,857.24, while the tech-rich Nasdaq Composite Index climbed 16.42 (0.40 percent) to 4,129.41. Stocks appeared set for a second straight day of gains after snapping a three-session losing streak Tuesday.
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