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13 Mar 2015
US stocks resume fall
FXStreet (Córdoba) - US stocks opened lower and extended losses after a string of weak US data, putting main indexes on track for a weekly losses.
The Dow Jones Industrial Average fell 0.74% to 17,763. The S&P 500 index shed 0.59% to 2,053 while the Nasdaq Composite lost 0.38%, to 4,874.
On the data front, US producer price index unexpectedly dropped by 0.5% in February, missing expectations of a 0.3% increase. The core index, which excludes food and energy also fell by 0.5%, undershooting +0.1% of forecast.
Meanwhile, the Reuter/Michigan consumer confidence index fell to 91.2 in February, missing expectations of 95.5.
Volatile moves were seen this week following a strong US employment report last Friday, which fueled speculation the Federal Reserve could hike rates at mid-year.
The Dow Jones Industrial Average fell 0.74% to 17,763. The S&P 500 index shed 0.59% to 2,053 while the Nasdaq Composite lost 0.38%, to 4,874.
On the data front, US producer price index unexpectedly dropped by 0.5% in February, missing expectations of a 0.3% increase. The core index, which excludes food and energy also fell by 0.5%, undershooting +0.1% of forecast.
Meanwhile, the Reuter/Michigan consumer confidence index fell to 91.2 in February, missing expectations of 95.5.
Volatile moves were seen this week following a strong US employment report last Friday, which fueled speculation the Federal Reserve could hike rates at mid-year.