(menafn – ecpulse)
U.S shares plummeted in the midday session as fears rose locally on globally; on one hand there is growing concern that Greece may leave the euro as the region’s leaders prepared to meet in Brussels and on the other hand Dell Inc. tumbled on a disappointing revenue forecast.
Now Citigroup Inc. and Bank of America Corp. retreated at least 1.3 percent, following losses in a measure of European banks.
Plus Dell slumped 18 percent, the most on a closing basis since 2000, as the personal computer maker also reported profit that missed estimates.
Furthermore Facebook Inc. the social networking site that raised 16 billion in an initial public offering last week rallied 3.6 percent after plunging 19 percent over the previous two day
The Dollar index which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, and the Yen, rose on a daily scale to currently trade at 82.12 recording its highest level at 80.07 and its lowest at 79.19. Gold prices dropped to reach 1548.37 while that oil rose to reach 92.56 per barrel.
As for stocks, the most sectors that shed points the most leading the decline in the DJIA were the technology, 0il & gas and financials shares respectively, while in the S&P 500 index most dropping sectors were the oil & gas, basic materials and technology shares respectively.
The Dow Jones Industrial Average traded lower by 160.86 points or 1.29 percent at 12:47 New York time reaching 12341.95 levels, while the S&P 500 index traded at 19.66 as it dropped by 19.49 points or 1.49 percent, meanwhile the NASDAQ Composite index declined 34.62 points or 1.22% to trade at 2804.46 levels.