Dow extends losses for the week

Source: Dukascopy Bank SA
U.S. stocks declined yesterday, as the nation's employers hired less-than-estimated workers in March and non-manufacturing businesses, covering nearly 90% of the world's largest economy, dropped to 54.4 the last month compared to a rate of 56 in February. The Dow Jones Industrial Average extended its decline for the week and retreated 0.8%, or 111.66 points, to end at 918.71. All groups in the gauge decreased, while only three out of thirty blue chip companies edged higher. Merck & Co rose 1% for the biggest rally on Dow, restricting the downward trend in health care group that slid 0.2%. Meanwhile, financial shares put a lid on Dow, as JPMorgan Chase & Co plummeted 3%, the most in the gauge, to close at $46.85.  Bank of America and American Express followed with 2.8% and 2.1% declines.



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