SME Times is powered by   
Search News
Just in:   • Corp tax cut to help top 1,000 firms save Rs 37K cr: Crisil  • Hats off to Sitharaman for tax cut: Mazumdar-Shaw  • Tax sops to boost India's IT competitiveness: Nasscom  • Export key to become $5-tn economy: Niti official  • Supply shortage sends onion prices soaring to 4-yr high 
Last updated: 13 Jun, 2019  

NYSE.9.Thmb.jpg US stocks end lower as tech, financial shares fall

   Top Stories
» Export key to become $5-tn economy: Niti official
» Corp tax cut to push investment flow to exports: FIEO
» Industry hails govt's Rs 1.45L cr stimulus
» Corp tax cut raises fiscal risks, warns Moody's
» Modi govt unrolls Rs 1.45 lakh cr tax bonanza
IANS | 13 Jun, 2019
US equities closed lower, pressured by the losses in tech and banks shares.

The Dow Jones Industrial Average fell 43.68 points, or 0.17 per cent, to 26,004.83 on Wednesday. The S&P 500 was down 5.88 points, or 0.20 per cent, to 2,879.84. The Nasdaq Composite Index decreased 29.85 points, or 0.38 per cent, to 7,792.72, Xinhua reported.

Shares of Goldman Sachs and JPMorgan Chase slid 2.32 per cent and 1.27 per cent, respectively, among the worst performers in the Dow. The S&P 500 financials sector declined 0.95 per cent.

Major chip stocks underperformed, weighing on the tech sector. Shares of Lam Research Corporation slumped 5.29 per cent, while Qualcomm dropped 2.32 per cent. VanEck Vectors Semiconductor ETF (SMH), which tracks the overall performances of major US exchange-listed companies in the semiconductor industry, closed down 2.17 per cent.

On the economic front, the U.S. consumer price index for all urban consumers increased 0.1 per cent in May on a seasonally adjusted basis after rising 0.3 per cent in April, the US Department of Labor reported.

The closely-watched core inflation that strips out food and energy also advanced a scant 0.1 per cent last month.

The muted inflation data came as investors increasingly speculate on interest rate cuts from the Federal Reserve.

Market expectations for lower rates by July were at 85.3 per cent on Wednesday, according to the CME Group's FedWatch tool.
Print the Page
Add to Favorite
Share this on :

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

  Customs Exchange Rates
Currency Import Export
US Dollar
UK Pound
Japanese Yen 58.85 56.85
As on 23 Sep, 2019
  Daily Poll
Is the Union Budget 2019 MSME-friendly?
 Can't say
  Commented Stories
» Modi govt unrolls Rs 1.45 lakh cr tax bonanza(1)
» L&T secures Rs.3.44 billion project from Power Grid(1)
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter