US equities tumbled on global growth concerns

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Source: Dukascopy Bank SA
US stocks tumbled on Tuesday as market sentiment was dampened after the IMF cut global growth forecast. Weighting down on the US equities, S&P 500 companies are expected to post annualized losses in Q3, for the first time in three years. Disappointing comments by Mario Draghi also pressurized US shares. The S&P 500 Index plunged 0.99% to close at 1,441.48. All sectors within the index dropped. The top-losers were consumer services and health care sectors. Shares of Apollo Group, Carnival and International Game Technology lost 1.37%, 0.73% and 0.93, respectively. Among health care firms, Baxter International, CareFusion and Covidien slid 2.17%, 2.48% and 3.23%, respectively. Meanwhile, Edwards Lifesciences was the top-loser, slumping 21.24% after reporting weaker than expected profits. On the downside were also banks, with Comerica and Hudson City Bancorp falling by 0.44% and 0.86%. Stanley Black & Decker dropped 2.68% after the tool maker announced it would sell its hardware and home improvement unit to Spectrum Brands Holdings for USD1.4 billion in cash.

 

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Wed, 10 Oct 2012 14:19:09 GMT

US blue chips plunged on eurozone's turmoil

US blue chips sank during risk-off trade on Tuesday after the IMF lowered its global growth estimate. Adding to the negative mood of the US blue chips, the ECB president Mario Draghi said that eurozone was facing downside risks. The Dow Jones Industrial Average Index lost 0.81% to close at 13,473.53. All sectors included in the index dropped. The worst-performers

Wed, 10 Oct 2012 12:11:02 GMT

Aussie stops its 2-day rally before unemployment data

The Australian Dollar stopped its 2-day strengthening before unemployment data, which may indicate that jobless rate rose to the highest level in 3 months. The Aussie Dollar traded at $1.0201 after gaining 0.2% in previous 2 days. Australia's currency stayed unchanged at 79.86 yen, whereas New Zealand's Dollar fell 0.3% to 81.59 U.S. cents.

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