Traders wear masks as they work on the floor of the New York Stock Exchange in response to the outbreak of the coronavirus disease (COVID19) in the Manhattan borough of New York, U.S., May 27, 2020. REUTERS/Lucas Jackson(Reuters) – U.S. stocks opened sharply lower on Thursday with the Nasdaq falling after a four-day rally on fears of a second wave of coronavirus infections and a grim economic forecast from the Federal Reserve. The Dow Jones Industrial Average .DJI fell 707.48 points, or 2.62%, at the open to 26,282.51. The Nasdaq Composite .IXIC dropped 229.11 points, or 2.29%, to 9,791.24 at the opening bell. The S&P 500 .INX was down 88.15 points, or 2.76%, at 3,101.99 after market open. Reporting by Devik Jain in Bengaluru; Editing by Shounak Dasgupta
Gravity takes over as Asia stocks fall from highs, follow US drop
Warnings from United States Federal Reserve officials about the shakiness of the economic recovery from the coronavirus pandemic and a tumble on Wall Street pulled shares in Asia sharply lower on Thursday. US Federal Reserve Vice Chair Richard Clarida said on Wednesday that the US economy remains in a “deep hole” of joblessness and weak…
Warnings from United States Federal Reserve officials about the shakiness of the economic recovery from the coronavirus pandemic and a tumble on Wall Street pulled shares in Asia sharply lower on Thursday.
US Federal Reserve Vice Chair Richard Clarida said on Wednesday that the US economy remains in a “deep hole” of joblessness and weak demand, and called for more fiscal stimulus from the government, noting that policymakers “are not even going to begin thinking” about raising interest rates until the inflation rate hits 2 percent.
Cleveland Federal Reserve Bank President Loretta Mester echoed Clarida, saying that the US remains in a “deep hole, regardless of the comeback we’ve seen”.
MSCI’s broadest index of Asia-Pacific shares outside Japan tumbled 1.35 percent in the morning session on broad losses across the region. It is down about 3 percent from a more-than-two-year high reached late last month, but remains more than 41 percent higher than its levels in March as the virus took hold globally resulting in widespread economic shutdowns.
Chinese blue-chip shares dropped 1.09 percent, Hong Kong’s Hang Seng fell 1.72 percent, Seoul’s KOSPI sank 1.73 percent and Australian shares were 1.18 percent lower.
Japan’s Nikkei fell 0.74 percent.
‘Blood on the street’
Many analysts believe the rebound in share prices over the last six months is not fully justified by the underlying realities of the global economy.
“Have we overpriced the rebound in the economy? After the stern warning from Clarida, I say we have,” said Stephen Innes, chief global markets strategist at AxiCorp.
“I think the market was interpreting a bounce from the bottom as a cyclical recovery, but I don’t think we’re there yet. I still think there’s a lot of blood on the street, especially on Main Street.”
US stocks fell on Wednesday after data showed business activity slowed in September, with gains at factories more than offset by a retreat at services industries.
Investors now await weekly data due later on Thursday, which is expected to show US jobless claims fell slightly but remained elevated, indicating the world’s largest economy is far from recovering.
While Clarida and other Fed officials have called for more fiscal assistance in boosting the economy, analysts say immediate support is unlikely with the US Congress locked in an impasse.
Additionally, a second wave of coronavirus infections in Europe threatened the economic recovery in that region pushing equities lower and propping up the safe-haven dollar.
On Wednesday, the Dow Jones Industrial Average fell 1.92 percent, the S&P 500 lost 2.37 percent and the Nasdaq Composite dropped 3.02 percent.
[Bloomberg]In the currency market, the dollar eased from two-month highs touched on Wednesday. The US dollar index, which measures the greenback against a basket of peers, was a touch lower at 94.348, but edged up against the yen to 105.41.
The euro ticked up to buy $1.1664.
“A stronger USD remains a significant headwind for commodity markets, with investor appetite waning,” ANZ analysts said in a note.
Spot gold – the price of the metal for immediate delivery – hit a two-month low early in the Asian day as the dollar appreciated, but was flat at $1,863.61 per ounce by mid-morning.
Oil prices fell amid uncertainty about demand due to pandemic-related travel restrictions.
Brent crude dropped 0.89 percent to $41.40 a barrel and US West Texas Intermediate crude was 1.15 percent lower at $39.48 a barrel.
Kristin Cavallari Says She Thought About Divorce ‘Every Day for 2 Years’
Long and winding road. Kristin Cavallari opened up about how she decided to end her marriage to Jay Cutler, seven years after tying the knot. “It was not an easy decision, obviously,” Cavallari, 33, told Entertainment Tonight in an interview airing on Monday, September 28. “It was something that I truly thought about every single…
Long and winding road. Kristin Cavallari opened up about how she decided to end her marriage to Jay Cutler, seven years after tying the knot.
“It was not an easy decision, obviously,” Cavallari, 33, told Entertainment Tonight in an interview airing on Monday, September 28. “It was something that I truly thought about every single day for over two years.”
The former couple were together for three years before saying “I do” in 2013. Upon returning from the Bahamas this pas April — the pair were quarantining there with their kids amid the coronavirus pandemic — they announced their split.
Kristin Cavallari and Jay Cutler. Shutterstock; AP/Shutterstock“It was the hardest decision that I have ever made,” the Uncommon James founder explained. “But I don’t know, my mom used to say, ‘You’ll know when it’s time.’ I feel like that was true. I knew. And that’s that.”
The True Comfort author, who shares three children, sons Camden, 8, and Jaxon, 6, and daughter Saylor, 4, with the former NFL star, 37, reiterated how much she thought about breaking things off on Wednesday, September 23.
“It didn’t happen overnight,” the Hills alum told People. “We tried really, really hard for years and years.”
Cavallari said she still cares “so much about him and talk to him almost every day” despite going their separate ways.
Looking back, the Very Cavallari alum revealed she felt like she was “drowning.” After filing for divorce, the designer is “proud” of herself for making the decision and noted that she feels like “my whole world is opening up now because of it.”
Last month, the Laguna Beach alum exclusively told Us Weekly that “this is the first time in a very long time that I feel like I can take a breath.”
Cavallari added: “I’m enjoying things slowed down and having more time to focus on what really matters in life. I want to take this extra time I have right now to better myself and be the best mom I can be and continue to grow Uncommon James.”
Through all the ups and downs of her breakup, the Balancing in Heels author revealed that she’s working on taking time out to refuel herself as well.
“To feel my best, I have to make sure I’m making myself a priority,” she told Us. “And for me that means working out, eating healthy and having balance in my life. Getting rid of the things that don’t bring me joy. … I hate negativity.”
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Louis Partridge Prefers Flowers
Joseph Sinclair / Netflix By Emlyn Travis Louis Partridge remembers exactly where he was when he discovered that he had been cast as the noble Viscount Tewkesbury, Marquess of Basilwether, in Netflix’s newest film Enola Holmes, out today (September 23). He was in the kitchen of his London home with his mom and dad and,…
Joseph Sinclair / Netflix
By Emlyn Travis
Louis Partridge remembers exactly where he was when he discovered that he had been cast as the noble Viscount Tewkesbury, Marquess of Basilwether, in Netflix’s newest film Enola Holmes, out today (September 23). He was in the kitchen of his London home with his mom and dad and, upon discovering that he had gotten the role, promptly shot up the stairs in a celebratory victory lap. Then, he recalls, he packed up his things and took an English literature exam at school.
“I was auditioning for Enola Holmes in the run-up to my GSCEs in England, which are these big exams that you take, and I thought: I should be revising for this [exam], but I’ve got this audition in a week, and this is the most important thing I’ve done so far. I want to do this; the exams can wait,” the 17-year-old actor tells MTV News over Zoom from the very same home in London. “And then I went and did my exam, and I remember halfway through putting my pen down and just being spaced out, thinking: Wow, I got the part.”
Prior to the call, it had been a long period of waiting after his audition in Leicester Square. “I just remember waiting to hear so bad,” he says. “You can fall into a trap a bit where you want a part so bad and you don’t get it, so I try not to want [any role] too bad, but I couldn’t with this one.”
Landing the part, however, did come with a caveat: ”It was the worst exam I did of the whole of my GCSEs,” he reveals between laughs. “I did 10, and it was the worst one I got. I’ll take the Enola job over a better grade, that’s for sure.”
Alex Bailey / LegendaryDirected by Harry Bradbeer, the coming-of-age film is based on the novels by Nancy Springer and sees its titular character, played by Millie Bobby Brown, embark on an adventure to London to track down her missing mother (Helena Bonham Carter) while dodging her brothers Sherlock (Henry Cavill) and Mycroft Holmes (Sam Claflin). Along the way, she encounters the posh Tewkesbury, played by Partridge, and the two form an unlikely alliance despite being complete opposites; Enola is unabashedly direct and quick on her feet, while Tewkesbury is more thoughtful and gentle. It’s Tewkesbury’s soft heart that initially drew Partridge to the character.
For the last six years, Partridge has delicately balanced a burgeoning acting career alongside the busy life of a teenager. Everything in his life changed when, at 12-years-old, he was part of a three-day short film shoot that made him fall in love with acting, and he’s been chasing its creative thrill ever since. Although he never officially took acting classes or went to drama school, he cites Leonardo DiCaprio as a major acting influence growing up, especially the films The Aviator and Shutter Island (he’s yet to watch What’s Eating Gilbert Grape, but it’s on his list), and now finds inspiration in Timothée Chalamet’s career, too. Since that fateful film, Partridge’s bright-eyed determination has also led him to roles in Paddington 2 and Medici; he knows the route into Central London for auditions so well that, at this point, he swears he could do it with his eyes closed.
But offscreen, Partridge is still a down-to-earth teen. He likes skateboarding and listening to his favorite bands: The Strokes, The Smiths, The Cure. (“If it’s ’80s, I’ll like it,” he says.) Naturally creative, he’s been teaching himself how to play songs on piano via YouTube tutorials. With the world currently in lockdown, he’s been taking his dog on walks, he’s tried out songwriting, and he’s recently become obsessed with making milkshakes in his Nutribullet — just about anything that gets him away from his laptop screen and online schooling. He’s also a fan of mysteries although, admittedly, prefers Agatha Christie’s stories over Sherlock Holmes.
Still, he could quickly see similarities between himself and Tewkesbury, the quiet teen who prefers plants over politics. “He might not seem it at the start, but [Tewkesbury’s] super soft. He’s quite a gentle character and he’s really just trying to navigate his way through this pretty insane life that’s been set out for him,” he says. “[He’s someone] who’s not afraid to like flowers. This is where me and Tewkesbury meet; I often wear quite a lot of women’s clothes and I get teased a little at school. It’s healthy, obviously, but I like the fact that Tewkesbury represents something that you don’t see all too much, in the same way Enola does.”
It was easy for Partridge to slip into the role of Tewkesbury, in part because he got to work alongside Brown. Aside from being “a little bit” starstruck upon their initial meeting, he and Brown quickly formed a fast friendship not dissimilar to their characters. Despite initially wanting nothing to do with him, Enola is forced to work alongside Tewkesbury after the two narrowly escape death by leaping from a moving train. It’s not until they’re lost in the English countryside together that the duo discovers their unique upbringings make them a good team; Tewkesbury’s knowledge of local foliage and mushrooms secures them dinner, while Enola’s knack for disguises grants Tewkesbury anonymity so he won’t be recognized as the missing Marquess in London. “We’d be talking on set and joking and doing whatever, and we’d sort of fall into our characters, and then it’d be Enola and Tewkesbury,” he says.
Their friendship is partly why Partridge didn’t feel particularly nervous on his first day on the set of a massive production. “I think it’s something to do with acting with Millie that made me sort of forget where I was,” he says. “Because we were mates offscreen, you sort of bring that into your onscreen relationship which really helped and I think it came across in the film.”
Between takes on the 50-day shoot, Brown and Partridge could often be found joking around and creating short videos together using the app Video Star, including a particularly stunt-heavy one he believes lives on Brown’s phone. “There’s a Video Star that we made in between takes of [shooting scenes on the train],” he says. “We stood up the camera in the train while they were filming, so it’s Millie’s phone from the inside just lying on the seat while I’m hanging out of the train, basically.”
Partridge hopes viewers enjoy that onscreen connection between Tewkesbury and Enola and that they leave the film with a better understanding of his character’s own personal struggles. “I hope people understand that behind his bravado and his arrogance at the start, he’s kind of lost underneath,” Partridge says. “He’s really innocent, and Enola sees that and likes that. And I see sort of the opposite in Enola, who seems to know what’s going on when, in actual fact, she needs Tewkesbury, just like Tewkesbury needs her.”
As she speeds away on a bicycle with a cheeky grin in the final scene of the film, Enola says the future is “up to us,” and, if given the chance, Partridge has a few ideas for his character’s future that he’d like to see happen in further installments. “I think Tewkesbury would quite like to meet Sherlock; I think that would be quite interesting,” he says. And naturally, he’d love to work with Brown again in a sequel. “I think they left the relationship between Enola and Tewkesbury so up in the air that I think there’s so far for it to go… but that’s just me!”