Wall Street ended a five-week winning steak on Friday as the threat of rising interest rates in China prompted investors to book profits and reassess bullish positions in equities.
Investors worried tighter credit in China would curb demand for commodities, driving down energy and natural resource stocks. The two sectors were the biggest drag on the S&P.
A string of global worries, including debt problems in Ireland, have prompted investors to reassess their positions or at least buy protective options so they can define their risk, said TD Ameritrade chief derivatives strategist Joe Kinahan in Chicago.
Dow Jones Industrial Average
(DJI: ^DJI)| Index Value: | 11,192.58 |
|---|---|
| Trade Time: | 4:03PM EST |
| Change: |  90.52 (0.80%) |
| Prev Close: | 11,283.10 |
|---|---|
| Open: | 11,281.28 |
| Day's Range: | 11,143.84 -11,283.70 |
| 52wk Range: | 9,596.04 -11,505.80 |
No comments:
Post a Comment
Please remember...your comment should not contain nudity or vulger language in addition to advertisement of your blog/site or any product ...and should not hurt the readers emotions...if that will be case it will be removed on first review of admin staff... Regards