Wall Street dives, setting the ASX up for heavy losses at open

Caution remains the key word across global markets as investors try to gauge whether the recent selloff has room to run

Futures point to a 0.5% fall for the S&P 500, a 0.5% decline for the Dow Jones Industrial Average and a 0.7% drop for Nasdaq.

Investors are also anxious about the ongoing trade war with China and its impact on corporate bottom lines as well as the rising threat of higher interest rates.

All of those factors could threaten the impressive profits Corporate America has been reporting this year.

The Dow Jones Industrial Average fell 545 points after dropping 831 points Wednesday. The S&P 500 was off by 1.7 percent, putting it on pace for its first five-day losing streak in two years.

Technology giants have suffered an investor rout that sent United States stock markets falling heavily on Wednesday. Every one of the 11 S&P 500 sectors finished down for the day.

The Nasdaq composite tumbled 315.97 points, or 4.1 percent, to 7,422.05.

Some early relief over a tame report on USA inflation gave way to renewed selling.

This afternoon saw shares in Intel and Microsoft drop by more than 2.5 percent, while Amazon shares fell by more than 2 percent and Netflix saw a decline of 3.6 percent. It was at just 3.05 percent early last week.

Oil prices slumped to two-week lows as global stock markets fell, with investor sentiment made more bearish by an industry report showing USA crude inventories rising more than expected.

Trump, Kim considering four locations for next summit
On Wednesday, during a National Assembly audit of her ministry, Kang raised the possibility of lifting those sanctions. Unification Minister Cho Myoung-gyon said that the government had never seriously considered lifting sanctions.

Richard Branson to Launch Himself to Space "In Months"
According to the businessman, "The market for people who would love to become astronauts and go to space is enormous . The entire flight should take around 2.5 hours, though only a few minutes will actually be spent in suborbital space.

Murkowski on Trump: I know Alaska 'better than he does'
Senate Democrats pushed for an investigation into allegations of sexual assault that multiple women leveled against Kavanaugh. Baldwin pointed to one plan sold in her state that she said does not cover hospital care on a Friday or Saturday.

Asian markets were broadly lower on Thursday after Wall Street slumped on a heavy selling of technology and internet stocks.

Earnings were a major driver of the market last quarter, and analysts see more robust results ahead, even if companies face growing issues like the yet-to-be-resolved trade war and higher raw-materials costs.

Benchmark U.S. Treasury 10-year notes rose 14/32 in price, pushing their yield down to 3.1724 percent. Stocks had come close to big drops in the last few days, but each time they recovered some of their losses.

Earlier on Wednesday, Sears Holdings plunged on reports that the struggling retailer is preparing to file for bankruptcy.

West Texas Intermediate has shed almost $4 a barrel since Tuesday, marking its steepest two-day decline in more than three years.

Oil prices fell to two-week lows after OPEC said its production rose in September, easing concerns about a drop-off in Iranian barrels as USA sanctions loom.

Tokyo's Nikkei 225 gave up 3.9 percent to 22,591.10 and the Shanghai Composite lost 4.3 percent to 2,607.44.

The dollar fell to 111.94 yen from 112.59 yen, and the euro rose to $1.1594 from $1.1525. Companies that sell non-essentials to consumers dropped 1.7 percent. The British pound rose to $1.3197 from $1.3146.

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