The U.S. Stocks Dropped
Research indicated that unemployment demands increased and reached seven-year demand level while volume of factory orders dropped
VLADIVOSTOK. 6 October. VOSTOK-MEDIA. Stocks markets closed with declining on Thursday due to intensity in credit area and low macroeconomic indicators reminded investors that the economic situation remains tentative even if the Congress will pass the $700 billion bill.
Research polls indicated that unemployment benefit demand reached seven-year level and volume of factory orders dropped in August.
Experts say that low macroeconomic indicators show consequences of stagnation at the world markets.
Oil prices decreased by 4% because intensity at the world financial markets sparked concern over future oil demand and precious metals drooped in price at the background of rising dollars.
Fund indicator Dow Jones lowered industrial average 3.22% to 10.482,85; Standard and Poor’s lost 4.03% and decreased to 1.114,28, Nasdaq Composite – 4.48 and reached the three-and-a-half level, 1.976,72. Stocks of Hartford Financial, Principal Financial and MetLife lost positions as well. Investors sold stocks of such companies as Intel Corp and IBM and of industrial conglomerates that were influenced by Barclayss falling prognosis for this sector.
Quotations of resource industries descended following declining commodity price at the markets. General Electrics assets cheapened after the company announced that they estimated assets at lower price at Wednesday tenders.
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