Jun 11
13
DJIA edged down 1.4% or 172.5 points to 11,951.9. NASDAQ shed 1.5% or 41.1 points to 2,643.7. S&P 500 lost 1.4% or 18.0 points to 1,271.0.
Australian and Asian Report 13th June 2011
US markets dipped sharply on Friday, with the DJIA ending below the important level of 12,000 for the first time in three months, amid further signs of a global economic slowdown. Among insurance stocks, Travelers retreated 3.1%, as it delayed its share buyback program, following $1 billion loss in natural disasters. Peers, Principal Financial, MetLife and Allstate, recorded losses between 1.7% and 1.8%. Regional bank stocks, Northern Trust Corp and M&T Bank Corp, lost 1.2% each, after Fed mulled to introduce annual stress tests for the firms having $50 billion or more assets. Intel declined 1.8%, as Macquarie slashed its price target on the stock. Drugmaker, Pfizer, shed 3.1%, despite gaining regulatory approval to acquire Danish medical services company Ferrosan’s consumer healthcare business.
DJIA edged down 1.4% or 172.5 points to 11,951.9. NASDAQ shed 1.5% or 41.1 points to 2,643.7. S&P 500 lost 1.4% or 18.0 points to 1,271.0.
International Report 13th June 2011
US markets dipped sharply on Friday, with the DJIA ending below the important level of 12,000 for the first time in three months, amid further signs of a global economic slowdown. Among insurance stocks, Travelers retreated 3.1%, as it delayed its share buyback program, following $1 billion loss in natural disasters. Peers, Principal Financial, MetLife and Allstate, recorded losses between 1.7% and 1.8%. Regional bank stocks, Northern Trust Corp and M&T Bank Corp, lost 1.2% each, after Fed mulled to introduce annual stress tests for the firms having $50 billion or more assets. Intel declined 1.8%, as Macquarie slashed its price target on the stock. Drugmaker, Pfizer, shed 3.1%, despite gaining regulatory approval to acquire Danish medical services company Ferrosan’s consumer healthcare business.
DJIA edged down 1.4% or 172.5 points to 11,951.9. NASDAQ shed 1.5% or 41.1 points to 2,643.7. S&P 500 lost 1.4% or 18.0 points to 1,271.0.
