US stocks plunge amid global rout

New York, Feb 12 (IANS) US stocks dived on Thursday as investors rushed to safe-haven assets amid a global rout in risk assets.

By noon, the Dow Jones Industrial Average lost 333 points, or 2. 09 percent, to 15,581. The S&P 500 dropped 32 points, or 1.8 percent, to 1,819. The Nasdaq Composite Index moved down 54 points, or 1.27 percent, to 4,229.

Hong Kong’s Hang Seng Index fell 3.9 percent as the market reopened after the extended holiday, catching up with the week’s turmoil.

Europe stocks were dragged down by the banking sector amid growing uncertainty surrounding interest rates and non-performing loans.

Plunging oil prices hit energy companies. Oil prices extend the losses amid supplies glut worries.

Federal Reserve Chairwoman Janet Yellen highlighted risks to growth and inflation on Wednesday, which also weighed on the market.

US stocks closed mixed Wednesday, as Yellen signaled that the Fed still keeps door open to further interest rate hikes, but flagging risks that could delay any further moves.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here