US stocks fall on Fed-rate hike concern, Apple shares
September 10, 2014 4:35 am
US stocks extended declines as it stooped lower in the market as Fed-rate hike concerns weigh on investors and Apple Inc. shares falter following S&P 500’s steepest drop in four weeks the day after.
The S&P 500 further plunged, losing 0.65% or 13.10 points down back under the 2000 mark at 1,988.44. Among the industry groups of the gauge, the financial shares and telecommunication paced the retreat while consumer staples dropped the least. The Dow Jones Industrial Average had an intraday low that had the index losing 118 points before settling at a 0.57% loss or 97.55 points to 17,013.87. Home Depot led the decline among the blue chips where out of the gauge’s 30 components 24 fell. The Nasdaq Composite decreased by 0.87% or 40 points to 4,552.29. The fear gauge of investors or the CBOE Volatility Index increased by 6.6% to 13.50. The trend shows that for every share that climbed, three fell. The New York Stock Exchanged witnessed a near 603 million shares exchange hands while the composite volume approached 2.9 billion.
Apple Inc. erased at least 4.8% of gains following the release of the tech giant’s new products. Amazon.com Inc. fell by at least 3.5% while McDonald’s Corp. shed 1.5%. Home Depot retreated by 2.1%.
Investors are still wary as more hints that the Federal reserve Bank will be increasing interest rates sooner than expected proliferate the global markets. The next Fed meeting will be on September 16-17. Futures of the S&P 500 shed 0.1% as the rebound of Apple Inc. was interrupted after the technology giant released its new line of products.
The material has been provided by InstaForex Company – www.instaforex.com
US stocks extended declines as it stooped lower in the market as Fed-rate hike concerns weigh on investors and Apple Inc. shares falter following S&P 500’s steepest drop in four weeks the day after.
The S&P 500 further plunged, losing 0.65% or 13.10 points down back under the 2000 mark at 1,988.44. Among the industry groups of the gauge, the financial shares and telecommunication paced the retreat while consumer staples dropped the least. The Dow Jones Industrial Average had an intraday low that had the index losing 118 points before settling at a 0.57% loss or 97.55 points to 17,013.87. Home Depot led the decline among the blue chips where out of the gauge’s 30 components 24 fell. The Nasdaq Composite decreased by 0.87% or 40 points to 4,552.29. The fear gauge of investors or the CBOE Volatility Index increased by 6.6% to 13.50. The trend shows that for every share that climbed, three fell. The New York Stock Exchanged witnessed a near 603 million shares exchange hands while the composite volume approached 2.9 billion.
Apple Inc. erased at least 4.8% of gains following the release of the tech giant’s new products. Amazon.com Inc. fell by at least 3.5% while McDonald’s Corp. shed 1.5%. Home Depot retreated by 2.1%.
Investors are still wary as more hints that the Federal reserve Bank will be increasing interest rates sooner than expected proliferate the global markets. The next Fed meeting will be on September 16-17. Futures of the S&P 500 shed 0.1% as the rebound of Apple Inc. was interrupted after the technology giant released its new line of products.
The material has been provided by InstaForex Company – www.instaforex.com
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