26 Mar 2015
Wall street suffers losses for the fourth consecutive session
FXStreet (Mumbai) - The major stock indices in the US fell for the fourth consecutive session, pressurized yet again by the losses in the technology shares.
The DJIA fell 108.04 points, or 0.61%, to 17610.50, while the S&P 500 declined 13.35, or 0.65%, to 2047.70. The technology-heavy NASDAQ Composite slid 44.23 points, or 0.91%, to 4832.29. The Nasdaq Biotechnology Index has fallen 8% this week after posting its latest all-time high on Friday.
The technology stocks have come under pressure this week due to renewed worries over valuations. Experts said the escalating conflict in the middle east also led to the risk aversion. Investors are also worried that the pace of US economic growth may have slowed down considerably in the first quarter as highlighted by the string of weaker-than-expected economic data since February.
The DJIA fell 108.04 points, or 0.61%, to 17610.50, while the S&P 500 declined 13.35, or 0.65%, to 2047.70. The technology-heavy NASDAQ Composite slid 44.23 points, or 0.91%, to 4832.29. The Nasdaq Biotechnology Index has fallen 8% this week after posting its latest all-time high on Friday.
The technology stocks have come under pressure this week due to renewed worries over valuations. Experts said the escalating conflict in the middle east also led to the risk aversion. Investors are also worried that the pace of US economic growth may have slowed down considerably in the first quarter as highlighted by the string of weaker-than-expected economic data since February.