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US stocks pushed lower by losses in energy shares

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 23, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

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    US stocks slipped in early trading largely due to losses in the energy shares and increased prospects of a Fed rate hike in April/June.

    At the time of writing, Dow Jones Industrial Average (DJIA) was down 46 points or 0.26%. S&P 500 index was down 7 points or 0.38%. Tech heavy Nasdaq traded 0.80% lower as well.

    DJIA oil and gas index dipped 2% as oil prices extended losses after the EIA reported showed a larger-than-expected buildup in the US oil inventories.

    Shares in Chevron were down 2.43%. Energy names like Chesapeake Energy, Freeport-McMoran, Devon Energy, Newmont Mining and Marathon oil were the top losers from the S&P 500 index.

    European markets gave up earlier gains, with the Stoxx Europe 600 slipping 0.2%. Meanwhile, Asian equities mostly edged lower.
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