Dow Jones Industrial Average: this week ends with heavy losses

Bulls let Dow Jones Industrial in the free swimming

In brief: Dow Jones Industrial Average falls on the background of the negative and bad statistics from the U.S. markets.

Dow Jones Industrial Average continues to go into negative zone. New statistics on the situation worsened Dow Jones. So, in the U.S. in April, core consumer price index, as expected, increased on a monthly basis at 0.1%, which coincided with the March value of the index. The index of regional business activity Managers Association of Milwaukee (NAPM-Milwaukee) in May dropped to 65 points (expected 64 points) with 66 points in April.

Now Dow Jones Industrial Average was 10,185.98 points. Dow Jones index lost to date -73.01 points (-0.71%). The situation could deteriorate because of bad data from Spain. International rating agency Fitch Ratings downgraded the senior unsecured debt rating of Spain at one level. According to Agency experts, the economy of this state will recover more restrained pace than the government predicts. Fitch Ratings downgraded the long-term issuer default rating in foreign currency and long-term issuer default rating in local currency from AAA to AA +. The outlook is stable. “Reducing the ratings reflect the opinion of agency analysts that the decline of the private sector of the economy of Spain and a large external public debt will slow the growth of the economy in the medium term” – the expert said Fitch Ratings Brian Kulton. The budget deficit of Spain up to 2009. 11% of the GDP. To reduce this figure to 2011. to 6% Government developed a package of measures: a reduction of salaries of civil servants by 5%, the suspension of public investment in social projects, as well as freezing their pensions. May 27, these steps have been approved by Parliament.

Ukrainian Globalist
2010-05-28 19:15, Economics.

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