U.S. equities end session near lows on light volume
Date
3/28/2016 5:16:20 AM
(MENAFN- ProactiveInvestors - Australia) By the close the Dow Jones had lost 0.5% to 17503
U.S. equities drifted overnight on light volume with crude oil also weighting.
By the close the Dow Jones had lost 0.5% to 17503. The S&P 500 gave up 0.6% to 2037 while the NADDAQ slumped 1.1% to 4769.
U.S. crude futures tumbled 4% to US$39.79 a barrel.
The Energy Information Administration disclosed that oil inventories rose by 9.4mln last week to 432.5mln barrels which is a record level.
Industry analysts had expected a rise of around 3.1mln barrels.
While in the gold market futures settled down 2% to US$1224 an ounce.
The Brussels bombings yesterday had overshadowed comment from several Fed officials that another hike was possible.
After the shock of the attacks wore off a little the U.S. dollar made strong gains against most of its rivals.
Philadelphia Fed President Patrick Harker said a rate rise next month should be considered echoing comments from Atlanta Fed president Dennis Lockhart.
Charles Evans Chicago Fed President added he expects two more rate rises over the course of 2016. <
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