S&P 500 drops on China, consumer confidence

Source: Dukascopy Bank
S&P 500 index faced its worst week in 2012 as several disappointing macro indicators including US consumer confidence and Chinese GDP growth harmed investor sentiment. US index fell 1.25% or 17.31 points and finished at 1,370.26 on Friday, posting a 2% weekly drop. Financial sector provided the heaviest downside contribution giving up overall 2.3%. Apple Inc. tumbled 2.8% on news the German court ruled against it in a patent conflict with Motorola regarding mobile e-mail technology. Google shed 4% after the firm announced it plans to issue new non-voting stock. 

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Mon, 16 Apr 2012 12:36:39 GMT

Dow Jones Industrial Average gives up 1% on Friday

Dow Jones Industrial Average index traded lower on Friday as data showed US consumer confidence weakened in the beginning of April amid surging Spanish bond yields. 28 out of 30 stocks ended up in the negative territory. Blue chip index fell 1.05% or 136.99 points and closed at 12,849.59 led by banking shares. Bank of America plunged 5.3% while JP

Mon, 16 Apr 2012 11:57:07 GMT

US shares experienced a worst week in 2012

US shares fell on Friday after China posted disappointing GDP growth data and US consumer sentiment gauge unexpectedly declined. S&P 500 index lost 1.25% or 17.31 points and finished at 1,370.26, Dow Jones Industrial Average shed 1.05% or 136.99 points to 12,849.59 while Nasdaq Composite index tumbled 1.45% or 44.22 points to 3,011.33.

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