USA exchanges dropped after Dubai Affair
The main stock indexes in the United States did not make an exception and also went to negative territory in early session today after holiday similar to those in Asia and Europe. Among losers ran those companies from the financial, energy and extractive industries. Reason for this were concerns about the inability of the state’s largest investment holding company of Dubai to pay its obligations. The way in which world financial markets reacted to news about the financial difficulties of the emirate of Dubai, showed how market participants remain sensitive to any bad news from the financial sector. Today’s trading will be shortened by half and therefore the liquidity is expected to remain low until the end of the trading session, which will end at 20:00 pm local time. The index of the 30 most liquid companies large and Dow Jones IA decreases by 1.2% to 10 341.6 points an hour and a half after the beginning of the session. On Wednesday, the stock measure reached its highest peak in the last 13 months of good data on the housing market and the labor market. A broader index S & P 500 also lost 1.2 percent to 1 097.3 points, after the very beginning of the session are reduced by 2.5%. The index, which combines all companies in exchange Nasdaq – Nasdaq Composite, retreated 1% to 2 153.5 points.
Dubai alarming news about the reduced tendency of market participants to invest in risky assets have increased the price of the dollar. As a result, gold and other precious metals fell as the price of gold recorded its strongest decline since the beginning of January. Crude oil got cheaper by 1.2 percent to 75.23 dollars per barrel. Today it became clear that many of the chain retailer in the United States will benefit from the opportunities of social networks to attract more customers during the weekend of Thanksgiving.
Tags: Affair, Asia, Dubai, Dubai Affair, energy, Europe, extractive industries, financial, financial sector, United States