US equities dropped on weak news from Europe

Note: This section contains information in English only.
Source: Dukascopy Bank SA
US stocks extended previous losses on Wednesday as market sentiment remained dampened by weak flesh PMI releases from the eurozone. An unexpected drop in German Ifo Business Climate Index also weighted down on global risk-appetite. At the same time, the Fed announced that it would continue its easing measures, thus limiting losses of the US equities. The S&P 500 Index inched down by 0.31% to end the session at 1,408.75. All but one sectors within the index fell. The only gainer was health c are industry, gaining 0.12%. Meanwhile, Norfolk Southern hit all railroad stocks. The company tumbled by 7.45% after reporting a 27% fall profits for Q3 amid weak coal prices. Meanwhile, Netflix sagged 11.87% as the firm lowered its forecast for the number of new subscribers. Dow Chemical advanced by 4.66% after announcing its restructuring plan. The firm plans to lay off 2,400 employees and close 20 manufacturing plants.

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