Wall street red on Wednesday amid dissappointing economic data

Source: Dukascopy Bank SA
Wall Street finished red on Wednesday, with the Standard & Poor's 500 Index falling down from a record high led by financial and energy stocks. In addition, worse-than-expected data on the world's largest economy also fueled concerns over U.S. economic growth perspectives. The S&P 500 slipped 1.1% to 1,533.69 for the biggest drop in more than month. All ten groups in the index posted losses. Tenet Healthcare Corp. led health care shares lower, as it erased as much as 7.8% after investors switched to health insurers to take advantage from the government's decision to not reduce its Medicare payments. Phillips 66, a downstream energy company, retreated 6.6%, adding to a 1.6% plunge in the oil and gas sector to finish at $$117.78. AutoNation Inc erased 5.2% to close at $41.82 and pace losses in consumer services group. In the meantime, Abercrombie & Fitch Company added 3.8% as retail sales were 21% up the last week.

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Thu, 04 Apr 2013 12:52:34 GMT

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