US equities slumped amid QE3 uncertainty

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Source: Dukascopy Bank SA
US stocks plunged on Thursday as hopes for QE3 started to fade amid positive economic data from the US.  Flash US PMI rose more than expected in August while new home sales beat forecasts in July. Moreover, upcoming meetings between EU officials regarding anti-crisis measures increased cautiousness among market participants. The S&P 500 Index tumbled 0.81% to end the session at 1,402.08. All industries within the index sank. The biggest losses posted basic materials and utility companies. Ball Corp, FMC Corp and Owens-Illinois dropped by 1.38%, 2.01% and 1.13%, respectively. Among utilities, Ameren, CMS Energy and Dominion Resources Inc slid 0.96%, 1.43% and 0.88%, respectively. At the same time, Big Lots, US retailer, created the heaviest pressure on the S&P 500, slumping by 20.80%. The company reported weak quarterly results and cut its full-year profit target.

 

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Fri, 24 Aug 2012 12:36:56 GMT

Aussie falls on mining concern

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