S&P 500 tumbles 1.7%, worst session in 2012

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Source: Dukascopy Bank
S&P 500 index experienced its worst session this year on Tuesday, mainly affected by worries about forthcoming earnings reports and climbing Italian and Spanish yields. US benchmark tumbled 1.71% or 23.61 points and closed at 1,358.59. Best Buy, the world's biggest electronics retailer, fell 5.9% after its CEO Brian Dunn quit. The supermarket and pharmacy chain Supervalu rallied 15% as its predictions for 2013 earnings surpassed analyst expectations. Company also announced job cuts and plans to close some of its stores to reduce costs. 

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Wed, 11 Apr 2012 10:07:24 GMT

Emerging patterns: GBP/USD 4H Chart: Descending triangle

GBP/USD rebounded to 1.5805 after had reached its five-month high at 1.6062, forming a descending triangle formation on the 4h Chart. The pattern has 65% quality along with 55% magnitude in a 56-bar period. The price increased to 1.5886 and may test the pattern's resistance level around 1.5895. The Stochastic indicator recoiled from the 26% level and is trying to reach

Wed, 11 Apr 2012 09:11:37 GMT

US shares face the worst session in 2012

US stocks experienced the worst session in 2012 on worries about upcoming earnings reports and surging Italian and Spanish borrowing costs. S&P 500 index tumbled 1.71% or 23.61 points and closed at 1,358.59. Dow Jones Industrial Average fell 1.65% or 213.66 points to 12,715.93 and Nasdaq Composite index plunged 1.83% or 55.86 points to 2,991.22.

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