Draymond Green's layup with less than a second on the clock lifted the Golden State Warriors to a 97-95 victory over the Miami Heat to maintain their hot form.
The Warriors made it five straight wins while handing Miami only their second defeat in 12 home games.
Klay Thompson led Golden State with 27 points, while Miami's LeBron James had 31 in defeat.
Golden State might be hot, but not as hot as the Oklahoma City Thunder who made it nine straight wins with a 92-88 victory over the New Orleans Hornets.
Kevin Durant poured in 35 points as the Thunder came back from an 11-point half-time deficit.
The Los Angeles Clippers are close behind with an eight-game winning streak after topping the Charlotte Bobcats 100-94 behind 19 points and 10 assists from Chris Paul.
The Boston Celtics needed two overtimes to see off the Dallas Mavericks 117-115.
Paul Pierce scored 34 points while Rajon Rondo had 16 with 15 assists and nine rebounds.
The Chicago Bulls won a fourth straight road game as Joakim Noah scored 21 points and Luol Deng added 19 and 12 rebounds in a 96-89 victory over the Philadelphia 76ers.
The San Antonio Spurs' winning streak ended at five as Mo Williams hit a three-pointer on the buzzer to lift the Utah Jazz to a 99-96 victory.
Paul Millsap collected 24 points and 12 rebounds in the win for Utah.
Goran Dragic's last-second hook shot saw the Phoenix Suns top the Memphis Grizzles 82-80, ending a seven-game losing streak.
The Brooklyn Nets snapped their losing streak at five games as they topped the Toronto Raptors 94-88 on the road.
Joe Johnson had 23 points with Andray Blatche adding 14 and nine rebounds.
Paul George had 27 points as the Indiana Pacers came from 16 points down to beat the Cleveland Cavaliers 96-81.
Brandon Jennings scored 19 points to lead the Milwaukee Bucks to a 98-85 win over Sacramento Kings, while 22 points and 11 rebounds from Nikola Pekovic lifted the Minnesota Timberwolves to a 108-105 victory over the Denver Nuggets.
Josh Smith and Jeff Teague had 16 points each in an 86-80 win for the Atlanta Hawks over the Orlando Magic, while the Houston Rockets topped the Washington Wizards 99-93 behind 31 points from James Harden.
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Four reasons global stock markets are falling right now
There are many factors worrying investors right now and triggering a rush out of stock markets. Here are four of the biggest:
1. Rising US interest rates
The US Federal Reserve has increased interest rates three times this year in a bid to prevent its buoyant economy from overheating. They now stand at between 2 and 2.25 per cent and markets are pencilling in three more rises next year.
Kim Catechis, manager of the Legg Mason Martin Currie Global Emerging Markets Fund, says US inflation is rising and the Fed will continue to raise rates in 2019. “With inflationary pressures growing, an increasing number of corporates are guiding profitability expectations downwards for 2018 and 2019, citing the negative impact of rising costs.”
At the same time as rates are rising, central bankers in the US and Europe have been ending quantitative easing, bringing the era of cheap money to an end.
2. Stronger dollar
High US rates have driven up the value of the dollar and bond yields, and this is putting pressure on emerging market countries that took advantage of low interest rates to run up trillions in dollar-denominated debt. They have also suffered capital outflows as international investors have switched to the US, driving markets lower. Omar Negyal, portfolio manager of the JP Morgan Global Emerging Markets Income Trust, says this looks like a buying opportunity. “Despite short-term volatility we remain positive about long-term prospects and profitability for emerging markets.”
3. Global trade war
Ritu Vohora, investment director at fund manager M&G, says markets fear that US President Donald Trump’s spat with China will escalate into a full-blown global trade war, with both sides suffering. “The US economy is robust enough to absorb higher input costs now, but this may not be the case as tariffs escalate. However, with a host of factors hitting investor sentiment, this is becoming a stock picker’s market.”
4. Eurozone uncertainty
Europe faces two challenges right now in the shape of Brexit and the new populist government in eurozone member Italy.
Chris Beauchamp, chief market analyst at IG, which has offices in Dubai, says the stand-off between between Rome and Brussels threatens to become much more serious. "As with Brexit, neither side appears willing to step back from the edge, threatening more trouble down the line.”
The European economy may also be slowing, Mr Beauchamp warns. “A four-year low in eurozone manufacturing confidence highlights the fact that producers see a bumpy road ahead, with US-EU trade talks remaining a major question-mark for exporters.”
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