Bad statistics drive the Nasdaq and the DJIA in horror

Dow Jones Industrial Average falls faster than the Nasdaq Composite

In brief: Bulls continue to leave the U.S. stock market on the background of a negative. Dow Jones Industrial Average, Standard & Poor's 500 and Nasdaq Composite losing more than 1%.

Nasdaq Composite has not withstand pressure from the poor statistics and the falls after the DJIA. Standard & Poor’s 500 is located at around 1,022.32 points, losing -8.39 (-0.81%). In the middle of trades the broad market Standard & Poor’s 500 was weak with a decrease at 1.36% on a mark to 1,016.71 points, the light blue-chip Dow Jones Industrial Average fell by 1,265% to a level of 9,650.36 points and the index of high-tech industries Nasdaq Composite was trading in a minus on 1,2% on a mark to 1,718.14 points.

Major stock indicators United States of America to the middle of trades show a downward trend. The first signal of retreat came from China, where the indices of business activity in industry and NBS HSBC declined slightly compared with May. Most of the published macroeconomic data from the U.S. also carried negative, reinforcing fears of a slowdown in economic growth in the world. Fuel to the fire poured analysts Bank of America, lowering his earnings forecast for the second quarter once the four largest U.S. banks. The number of primary applications for unemployment benefits last week increased from 457 thousand to 472 thousand, is expected to decline to 452 thousand index of economic conditions in the ISM manufacturing sector in June fell to 56.2 points, although analysts predicted decline to 59 points, the previous value (- 59,7) points. Construction costs in May decreased by 0.2%, is expected to decline by 0,8% the previous month rose by 2,7%.

Ukrainian Globalist
2010-07-01 16:48, Economics.

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