Breaking News

You are here » Indian-Commodity  :  International & World Stock  :  US markets end lower on Thursday

25-May2018

US markets end lower on Thursday

The US markets ended in red terrain on Thursday, as geopolitical worries hovered over markets after Trump called off the summit that was set to take place June 12 in Singapore. The cancellation followed a statement from Choe Son Hui, North Korea's vice minister of foreign affairs, in which he said if the talks didn't go ahead, the U.S. could instead face off with North Korea in a nuclear-to-nuclear showdown. Negative sentiment was also generated amid lingering trade concerns after Commerce Secretary Wilbur Ross initiated an investigation into whether imports of automobiles and parts threaten to impair U.S. national security.

On the economic front, the Labor Department released a report showing an unexpected increase in initial jobless claims in the week ended May 19. The report said initial jobless claims rose to 234,000, an increase of 11,000 from the previous week's revised level of 223,000. The increase came as a surprise to economists, who had expected jobless claims to edge down to 220,000 from the 222,000 originally reported for the previous week. A separate report from the National Association of Realtors showed a much bigger than expected pullback in existing home sales in the month of April. Existing home sales tumbled by 2.5 percent to an annual rate of 5.46 million in April after climbing by 1.1 percent to a rate of 5.60 million in March. The street had expected existing home sales to edge down by 0.2 percent.

The Dow Jones Industrial Average declined 75.05 points or 0.30 percent to 24,811.76, the Nasdaq slipped 1.53 points or 0.02 percent to 7,424.43 and the S&P 500 was down by 5.53 points or 0.20% to 2,727.76.


Related News

View all news

US markets extend gains on optimism about trade leads

Extending gains for fourth straight session, the US markets ended sharply higher on Friday, with gains of over a percent each, as traders continued to express optimism about trade talks between the US......

US markets end higher on hopes of easing trade tensions

Magnifying their gains for third straight day, the US markets ended higher on Thursday on report that the US is considering lifting some tariffs on Chinese products in an effort to elicit more concessions......

US markets end higher for second straight session

Extending their gains for second straight day, the US markets ended higher on Wednesday, on the back of upbeat earnings report from financial institutions such as Bank of America (BAC) and Goldman Sachs......

Top News

View all news

Glenmark Pharma recalling 96,240 applicators of its product from US

Glenmark Pharmaceuticals is recalling 96,240 applicators of its product Estradiol vaginal inserts for defective delivery system. The USFDA has termed it as a Class-II recall. The USFDA has classified Class-II......

Infosys hires over 7,600 staff in US

Infosys has hired over 7,600 staff in the US. This hiring is more than three-fourth of its target of recruiting 10,000 American workers. The company is making recruitment from local schools a 'sustained......

SBI to sell 26% stake of SBI payment services

State Bank of India (SBI) is planning to sell 26% stake of its SBI payment services (SPSPL) to Hitachi Payment Services (HPY). After allotment of the shares, SBI shareholding in SPSPL will become 74% from......