U.S. and Asian stocks fell sharply on Wednesday and Thursday, heading in a downward spiral as the outcome of negotiations between Greece and its international creditors for a cash for reforms deal remained up in the air, prompting investors to drop riskier assets like equities. The Dow closed 178 points lower at 17,966, the S&P500 dropped 15 points to close at 2,108. The Nikkei fell 0.4% to 20,771.40.
The Dollar was broadly treading water against a basket of major currencies, with the Euro inching down slightly to $1.1201 and the Yen trading at 0.2% lower against the Greenback at 123.61 level.
U.S. crude was down about 0.1% at $60.19 a barrel after plunging more than 1% on Wednesday on a government report showing that an eighth straight weekly drop in U.S. crude stockpiles was offset by a large build in refined products. Brent crude added about 0.1% to $63.54. Spot gold rose about 0.2% to $1,177.31 an ounce after sliding for the past four sessions to a two-week low.
Recycled packaging maker DS Smith Plc reported a 20% jump in full-year pretax profit and said it had agreed to acquire Spanish company Grupo Lantero’s corrugated products business. The stock was trading 3% higher on the open at 389p per share.
U.S. and Asian stocks fell sharply on Wednesday and Thursday, heading in a downward spiral as the outcome of negotiations between Greece and its international creditors for a cash for reforms deal remained up in the air, prompting investors to drop riskier assets like equities. The Dow closed 178 points lower at 17,966, the S&P500 dropped 15 points to close at 2,108. The Nikkei fell 0.4% to 20,771.40.
The Dollar was broadly treading water against a basket of major currencies, with the Euro inching down slightly to $1.1201 and the Yen trading at 0.2% lower against the Greenback at 123.61 level.
U.S. crude was down about 0.1% at $60.19 a barrel after plunging more than 1% on Wednesday on a government report showing that an eighth straight weekly drop in U.S. crude stockpiles was offset by a large build in refined products. Brent crude added about 0.1% to $63.54. Spot gold rose about 0.2% to $1,177.31 an ounce after sliding for the past four sessions to a two-week low.
Recycled packaging maker DS Smith Plc reported a 20% jump in full-year pretax profit and said it had agreed to acquire Spanish company Grupo Lantero’s corrugated products business. The stock was trading 3% higher on the open at 389p per share.
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