Thursday, 7 January 2016

Wall Street drops to three-month low; China, energy weigh

The Dow Jones industrial average ended down 252.15 points, or 1.47 percent, to 16,906.51, the S&P 500 lost 26.45 points, or 1.31 percent, to 1,990.26 and the Nasdaq Composite dropped 55.67 points, or 1.14 percent, to 4,835.77.  

US stocks closed at their lowest level since early October on Wednesday, weighed down by fresh concerns over China and slower global growth and as energy shares tumbled with oil prices. 

Shares of oil majors Exxon and Chevron fell and the energy index .SPNY dropped 3.6 percent as oil prices plunged below USD 35 a barrel. 
Apple briefly dipped below USD 100 for the first time in nearly five months following reports of slowing shipments of the company's iPhone 6S and 6S Plus models. The stock, which ended down 2.0 percent at USD 100.70, was the biggest drag on both the S&P 500 and Nasdaq. 

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Against the trend, Netflix ended up 9.0 percent after announcing its video streaming service was now live in more than 130 countries. 

Weak data from China triggered declines in global equities markets on Monday, with the Dow recording its worst first day of the year since 2008.

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