STOCKS TAKE A DIVE: Here's what you need to know

US stocks slipped for a second straight day as weakness in commodities dragged raw-material producers lower.

The S&P 500, the Dow Jones Industrial Average, and the more tech-heavy Nasdaq Composite index all fell around 0.6%.

First up, the scoreboard:

  • Dow: 23,269.18, -140.29, (-0.60%)
  • S&P 500: 2,563.95, -15.05, (-0.58%)
  • Nasdaq: 6,699.29, -38.98, (-0.58%)
  • US 10-year yield: 2.34%, -0.05
  • WTI crude oil: $US55.28, -0.42, -0.75%

1. Stocks are flashing an ominous signal not seen since the financial crisis. Investment manager John Hussman points out that stock market dispersion is widening, while two technical indicators known as the Hindenburg Omen and Titanic Syndrome flashed sell.

2. America’s investing giants have a major problem with the GOP tax plan. A little-publicized provision of the bill would force clients of investment management firms to sell their oldest shares first when cashing out of positions.

3. Warren Buffett’s Berkshire Hathaway loads up on Apple. The firm raised its stake in Apple by 3%, to 134 million outstanding shares in the third quarter.

4. A $US20 billion investment firm is betting big on Wall Street’s hottest tech stocks. Billionaire Chase Coleman’s Tiger Global Management has increased its bets on Amazon, Facebook, Alibaba, and Alphabet.

5. People are underrating the odds of a government shutdown in December. Business Insider’s Josh Barro says that while President Donald Trump and congressional leaders prevented one fairly easily in September, it will be different in December.


China is about to take the entire global economy for a wild ride

Every US state’s most important international trading partners

The CEO of a $US740 million email company that just IPOed explains what it takes to go public

Nike and Adidas are trying opposite strategies to dominate the US

An anecdote about Elon Musk and Tesla’s big-rig reveals why people are obsessed with his company

Elon Musk calls investors who bet against Tesla’s stocks ‘jerks who want us to die’

Steven Mnuchin just showed off the first dollar bills with his signature — and the internet is having a field day

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.