SME Times is powered by   
Search News
Just in:   • Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia  • Europe facing earlier, stronger heatwaves: Climate scientist  • India and Namibia sign two MOUs in fields of health and entrepreneurship  • PM Modi arrives in Delhi after concluding 'productive and successful' 5-nation tour  • ASEAN to keep on consensus, inclusivity: Malaysian official 
Last updated: 13 Aug, 2019  

NYSE.9.Thmb.jpg US stocks end lower

NYSE.9.jpg
   Top Stories
» Committed to nurture next-gen innovation in 6G technology: Jyotiraditya Scindia
» Piyush Goyal holds talks with Malaysian minister on review of ASEAN trade pact
» India and OPEC have a unique and symbiotic relationship: Hardeep Puri
» SIP inflows hit all-time high in June, total AUM for equity MF at Rs 74.41 lakh crore
» India set to explore over 2.5 lakh sq kms area in one of largest offshore energy efforts
IANS | 13 Aug, 2019
US stocks ended lower, as the market was sunk by growing worries about the prospects of US economic growth and worsening US-China trade frictions.

The Dow Jones Industrial Average fell 391.00 points, or 1.49 per cent, to 25,896.44 on Monday. The S&P 500 decreased 35.96 points, or 1.23 per cent, to 2,882.70. The Nasdaq Composite Index dropped 95.73 points, or 1.20 per cent, to 7,863.41, Xinhua reported.

All of the 11 primary S&P 500 sectors traded lower around market close, with the financials sector down over 1.9 per cent, leading the losers.

Shares of Occidental Petroleum fell over 4.5 per cent, after Evercore rated the US energy giant "in-line," saying that the company's acquisition of Anadarko Petroleum caused the valuation of Occidental Petroleum to have declined.

The yields of both long-term and short-term US treasury bills plunged on Monday, with the benchmark 10-year bill's yield sliding to a bit over 1.64 per cent after market close. That widened its spread with the 3-month note's yield, which stood at nearly 1.99 per cent, thus forming an inverted curve and stoking fears of a potential recession.

The Cboe Volatility index, widely considered the best fear gauge in the stock market, increased 17.36 per cent to 21.09 on Monday.

Goldman Sachs also cut back its growth forecast for the fourth quarter by 20 basis points to 1.8 per cent, as the leading investment bank raised its "estimate of the growth impact of the trade war," said Jan Hatzius, a chief economist of the bank, in a note on Sunday.

"The drivers of this modest change are that we now include an estimate of the sentiment and uncertainty effects and that financial markets have responded notably to recent trade news," Hatzius noted.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
84.35
82.60
UK Pound
106.35
102.90
Euro
92.50
89.35
Japanese Yen 55.05 53.40
As on 12 Oct, 2024
  Daily Poll
Do you think Indian businesses will be negatively affected by Trump's America First Policy?
 Yes
 No
 Can't Say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter