Wall Street closed in red; technology sector weighted

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Source: Dukascopy Bank SA
© Scanpix/AFP
Wall Street closed lower on Tuesday amid mounting worries over fiscal cliff in the US. Moreover, Greek financial woes weighted down on the risk appetite. The IMF disagreed on Greek budget terms, while the eurozone's finance ministers postponed a bailout decision to November 20. The S&P 500 Index shed 0.4% to end the session at 1,374.53. Only three sectors rose. The top-performers were defensive stocks, with utilities adding 0.33%. Agl Resources and American Electric Power Company climbed 0.16% and 0.07%. Dragging the US stocks lower, technology and banking sectors tumbled. Microsoft slid 4% after reporting that Windows President Steven Sinofsky was leaving the company. Meanwhile, Cisco Systems was unchanged ahead of the earnings report. The company announced upbeat quarterly results after hours. Meanwhile, Apollo slashed 1.25% on news that the firm is going to raise USD12 billion for the latest fund that is less than the previous fund's size.

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Wed, 14 Nov 2012 10:47:50 GMT

US blue chips slid on fiscal cliff, Greek bailout woes

US blue chips index dropped on Tuesday amid persistent worries over the US fiscal cliff and Greek bailout uncertainty. Adding to the negative mood of the US equities, the US federal balance dropped more-than-expected last month. Meanwhile, traders were cautious ahead of the FOMC statement due on Wednesday. The Dow Jones Industrial Average Index plunged 0.46% to close at 12,756.18.

Wed, 14 Nov 2012 16:35:45 GMT

China's equities gain on party's meeting

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