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US stocks fall further amid soft economic data
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Top Stories |
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IANS | 18 Dec, 2018
US stocks closed lower as soft economic data renewed investors' worries over a possible economic slowdown.
The
Dow Jones Industrial Average fell 507.53 points, or 2.11 percent, to
23,592.98. The S&P 500 decreased 54.01 points, or 2.08 percent, to
2,545.94. The Nasdaq Composite Index was down 156.93 points, or 2.27
percent, to 6,753.73, Xinhua news agency reported on Monday.
The
Dow is now more than 11 percent lower than its 52-week high while the
S&P 500 is down 12 percent compared its record high. The CBOE
Volatility Index, which is widely considered the best fear gauge in
equities, hit a high of 23.79.
New York manufacturers reported on
Monday that business activity is growing at a slower pace in recent
months. The Empire State Manufacturing Survey's headline general
business conditions index, aggregated by the Federal Reserve Bank of New
York, fell 12.4 points to 10.9 in November, weaker than analysts'
expectations of the 20.6.
Homebuilder sentiment drops in December
to the lowest point in more than three years as potential buyers
delayed purchasing new homes, giving rise to concerns over
affordability.
Sentiment retreated four points in December to 56,
according to the National Association of Home Builders/Wells Fargo
Housing Market Index.
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Customs Exchange Rates |
Currency |
Import |
Export |
US Dollar
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66.20
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64.50 |
UK Pound
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87.50
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84.65 |
Euro
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78.25
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75.65 |
Japanese
Yen |
58.85 |
56.85 |
As on 13 Aug, 2022 |
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