10 Apr 2014
Wall Street plummets, Nasdaq falls 3.1%
FXStreet (Córdoba) - Shares in the US suffered a sharp decline on Thursday. The Dow Jones lost 267 points or 1.61% while the NASDAQ dropped 3.10%, having the worst day since 2011 and the S&P 500 fell 2.09%. The Volatility Index, also known as the fear index jumped 16%.
Tech stocks lead the downside in New York. Before Wall Street opening initial jobless claims data from the US, that dropped to the lowest level since 2007 triggered a recovery, but it proved to be short lived and the decline resumed. All indexes finished the session at the lows.
Despite risk aversion gold was able to hold to gains and closed around $1,317, at 2-week highs while the US dollar finished lower versus the Yen and the Euro. Commodity currencies were affected and pulled back from the highs, trimming gains.
Tech stocks lead the downside in New York. Before Wall Street opening initial jobless claims data from the US, that dropped to the lowest level since 2007 triggered a recovery, but it proved to be short lived and the decline resumed. All indexes finished the session at the lows.
Despite risk aversion gold was able to hold to gains and closed around $1,317, at 2-week highs while the US dollar finished lower versus the Yen and the Euro. Commodity currencies were affected and pulled back from the highs, trimming gains.