NEW YORK - US stocks dropped sharply Monday with investors and European debt fears giving growth Chinese easing jitters.
The Dow Jones Industrial Average of blue chip stocks closed 130.78 points (1.05%) to 12,381.26.
500-Stock broader S & P Index dropped 15,90 points (1.19%) to 1,317.37, while the tech-heavy Nasdaq Composite declined by 44.42 points 2,758.90 (1.58 per cent).
Stocks sank on the opening and retrieve only somewhat at the end of the session, with all 30 Dow components ending in red.
Decommissioning of S & P of Italian sovereign debt fuelled fears of a crisis in the eurozone spread, while slowing Chinese production figures have a new sign of slowdown in the world's second economy.
"Center of the stage belonged to the global malaise surrounding the eurozone debt crisis, after Standard & Poor?" s downgraded its Outlook for the Italy, Fitch lowered its Outlook on the Belgium, in Greece remains uncertain and Spain of the debt restructuring? the party in power has decimated during the regional elections in the course of the weekend "said analysts at Charles Schwab."
Caterpillar lost 2.5 per cent and Boeing fell by 1.6%. both are especially dependent on sales in China.
Among tech stocks, Internet giant Baidu China lost 3.9%.
Apple has closed 0.25% to $334.37, overcome earlier losses which was born of production iPad concerns after a deadly explosion at Foxconn China plant which makes iPads.
The bond market rose while the dollar jumped against the euro. Performance on the end note for 10 years of the Treasury Board dragged to 3.13% of 3.15% Thursday, while on the binding of 30 years to 4.27% of 16: 30 per cent.
Prices of bonds and yields move in opposite directions.
No comments:
Post a Comment