NEW YORK - disorders technology company and renewed Europe debt concerns dragged stocks lower for a second day.
Finance Ministers European approved 110 billion in loans Monday Portugal rescue, but have not yet decided on a second rescue of the Greece plan.
The arrest of the head of the Monetary Fund International should resolve more difficult problems of the Greece. The official, Dominique Strauss-Kahn, had been very involved in an attempt to resolve debt crises in the Portugal and Greece. He is detained without bail on charges of sexually assaulting an employee of the hotel in the city of New York.
Technology companies suffered major losses in trade Monday. Yahoo! Inc. and Amazon.com Inc. has fallen by more than 4%. Yahoo is in dispute with Alibaba Group Holding Ltd. in its online payment activities. Yahoo holds a 40% interest in the company, which has transferred its business to another company online payment without Yahoo.
Investors are increasingly concerned about the prospect of a U.S. default on its debt unprecedented. Secretary of the Treasury Timothy Geithner told legislators of the Congress, in a letter Monday that the Agency takes action to postpone a default value.
"The main thing suspended above of most financial markets right now, this is what will happen with the debt ceiling and the Government of borrowing and spending, stated Tim Courtney, the investment officer head the Advisory Group of Burns in Oklahoma City."
The Dow Jones index lost 47.38 points, or 0.4%, to close at 12,548.37. The standard & poor 500 index has dropped from 8.30 points, or 0.6%, to 1,329.47. The Nasdaq fell 46.15 or 1.6%, to 2,782.31.
Raw material prices were mostly lower. Fell in the price of oil $2.28 to settle at US $97.37 per barrel Monday as worries eased that raw of the Mississippi River could disrupt refineries and slow demand.
Commodities have fallen heavily over the past two weeks because of concerns that the global economy shows signs of weakening. A series of margin-walks that were intended to limit the influence of speculators, including heavy sent commercial products such as the silver more than 11 per cent for the year also sent commodities lower.
"People return markets products because they believe that, at the back of their minds, the history of the world's growth will continue," said Zahid Siddique, a portfolio manager associated with Gabelli equity Trust, a manager of Fund based in New York.
Stock market lost some of its momentum in recent weeks after completing its best first quarter since 1998. Companies considered defensive industries such as health care, utilities and consumers have exceeded lately due in part to concerns that high gas prices will slow the economy and cut in the profits of the business.
Two well known retailers in the United States fell after reporting results quarterly Monday. Company home renovation that COS. Lowe fell 2 percent in after that his quarterly report missed Wall Street estimates and the company cut its Outlook for the year. Bad weather and a decrease in consumer spending combined to drive its profit fell by 6% in the first quarter.
J.C. Penny Co. Inc. has lost 1.5% despite raising them its full year profit estimates.
One of trafficking more than Wall Street was officially dismissed as. The parent company of the New York Stock Exchange fell nearly 11 percent after only competing ice and Nasdaq OMX Group announced that they had withdrawn their hostile bid for the company. NYSE Euronext had irritated its shareholders by refusing to meet with the two companies, which offer a higher price than what NYSE received an operator German exchange. The withdrawn offer clears an obstacle to the proposed NYSE and his German counterpart combination.
More than two titles fell for all those which have increased in the New York Stock Exchange. Trading volume was $ 3.5 billion shares.
没有评论:
发表评论