Wall Street declined on Wednesday on lingering concerns about weak global demand, but an afternoon rebound helped the Standard & Poor’s 500 Index pare its biggest intraday plunge since 2011. The Dow Jones industrial average fell 173 points, or 1.06%, to 16,142, the S&P 500 lost 15 points, or 0.81%, to 1,862 and the Nasdaq Composite dropped 12 points, or 0.28%, to 4,215. Yesterday’s losses threatened to wipe out 2014 gains for the S&P 500 and Nasdaq, with the S&P 500 down more than 3% at its session low. The Dow industrials plunged further into the red for the year, and closed down for the fifth consecutive session. <Read More…>
[Source: www.citywire.co.uk - New Model Advisor - Author:Himanshu Singh - October 16, 2014]
