US blue chips slid on fiscal cliff, Greek bailout woes

Source: Dukascopy Bank SA
© Scanpix/Reuters
US blue chips index dropped on Tuesday amid persistent worries over the US fiscal cliff and Greek bailout uncertainty. Adding to the negative mood of the US equities, the US federal balance dropped more-than-expected last month. Meanwhile, traders were cautious ahead of the FOMC statement due on Wednesday. The Dow Jones Industrial Average Index plunged 0.46% to close at 12,756.18. Only two in nine sectors included in the index managed to post mild gains. The top-performs were consumer services companies, with Walt Disney adding 1.07%. Meanwhile, Home Depot was the top-gainer, surging 3.63% after reporting better-than-expected third fiscal quarter profits and raising full-year earnings guidance. On the downside, technology firms and financials retreated 1.08% and 0.91%. Shares of Microsoft, Intel and Hewlett-Packard dropped 4.18%, 2.36% and 2.01%, respectively. Among lenders, American Express and JPMorgan Chase led losses, declining by 1.4% and 1.33%.


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