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U.S. equities are extending their slide.

U.S. equities are extending their slide with the blue chips down over 1% and NASDAQ 1.5% lower. The latest blow to U.S.-Saudi relations came after Treasury Secretary Mnuchin indicated he will not now be attending the Saudi investment conference. Secretary of State Pompeo earlier indicated that it may take a couple more days to get to the bottom of the Khashoggi affair, though he wants them to wrap it up and for Prince MBS to "take ownership." Yet, crude oil remains lower amid speculation that the Saudis will have pump their way out of the crisis to curry favor. Yields are following suit lower, with the benchmark 10-year yield dipping from over 3.215% earlier to 3.17%.

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Publication:The Fly
Date:Oct 18, 2018
Words:122
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