Wall Street Weaker After Dive In European Stock Markets

By Big News Network

U.S. stocks were easier on Thursday as investors weighed up the outlook for the global economy, in the wake of weak data out of Europe.

“There’s a resurfacing of global growth fears, which has pushed U.S. stocks down,” Veronica Willis, investment strategy analyst at Wells Fargo Investment Institute in St. Louis was quoted by the Reuters Thomson news agency as saying Thursday.

“There are still some concerns surrounding trade, and I think those issues will linger for some time.”

There was carnage on European stock markets with the German Dax tumbling more than 300 points to a percentage loss of 2.57%.

In Paris, France the CAC 40 lost 1.84%, while the FTSE 100 in London fell 1.11%.

At the close of trading Thursday, the Dow Jones Industrial Average was down 220.77 points or 0.87% at 25,169.53.

The S&P 500 fell 25.56 points or 0.94% to 2,706.05.

The Nasdaq Composite declined 86.93 points or 1.18% to 7,288.35.

The U.S. dollar was in demand Thursday but was little changed form the close in Asia. The euro fell sharply earlier in the day but clawed back losses to trade at 1.1338.

The British pound rose to 1.2949 while the Japanese yen was little changed at 109.82 around the New York close Thursday.

The Swiss franc drifted to 1.0024.

The Canadian dollar fell heavily to 1.3304.

The Australian and New Zealand dollars were unchanged form the close in Asia, trading at 0.7103 and 0.6750 respectively late Thursday.

This article provided by NewsEdge.