US stocks plunged again on Thursday

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Source: Dukascopy Bank SA
US shares prolonged their slump on Thursday as fears over the US fiscal cliff continued to create a heavy pressure on riskier assets. Moreover, Chinese Communist Party Congress as well as concerns over the eurozone's economic instability added to losses of the equities. However, the downswing was limited by positive domestic data. US jobless claims dropped more than expected last week. A separate report showed that national trade deficit unexpectedly narrowed in September. The S&P 500 Index sank 1.22% to close at 1,377.51. All sectors within the index witnessed  sharp declines. The top-losers were oil and gas as well as technology sectors. Anadarko Petroleum and Diamond Offshore Drilling tumbled 1.09% and 3.56%, while Apple and Corning shed 4.11% and 0.96%. Apple continued to fall on worries about iPhone production. Meanwhile, Priceline.com dropped 1.06% after the company agreed to buy Kayak Software for USD1.8 billion.

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Fri, 09 Nov 2012 13:39:25 GMT

Dow pared losses after positive US data

US blue chips plunged further on Thursday amid on-going concerns over the US budget clashes. A leadership change in China coupled with recent growth forecast cuts in the eurozone also weighed on the market sentiment. However, Dow pared losses after encouraging data from the national economy. The Dow Jones Industrial Average Index lost 0.94% to close at 12,811.32. All but

Fri, 09 Nov 2012 13:17:30 GMT

China's industrial output and retail sales rise more than expected

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