Breaking News

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


US markets end lower on Thursday

The US markets ended lower on Thursday, with the Nasdaq Composite Index teetering on the edge of a bear market, as worries mounted about a possible government shutdown and the Federal Reserve's latest guidance on interest rates. President Donald Trump told House Republicans he is unwilling to sign a short-term spending bill approved by the Senate due to a lack of funding for his controversial border wall. The Senate bill passed by a voice vote Wednesday night would fund key government agencies through February 8, but pushes a debate over funding for the border wall into the next Congress. Further, renewed concerns about US-China trade talks also weighed on the markets after the Justice Department announced the criminal indictment of two computer hackers associated with the Chinese government. The unsealed indictment charges the two Chinese nationals with conspiracy to commit computer intrusions, conspiracy to commit wire fraud, and aggravated identity theft.

On the economic front, after reporting a notable decrease in first-time claims for US unemployment benefits in the previous week, the Labor Department released a report showing initial jobless claims rebounded in the week ended December 15. The report said initial jobless claims rose to 214,000, an increase of 8,000 from the previous week's unrevised level of 206,000. Street had expected jobless claims to climb to 216,000. The slightly smaller-than-expected rebound came after jobless claims fell to their lowest level in nearly three months in the previous week. Meanwhile, a report released by the Conference Board showed a modest increase by leading US economic indicators in the month of November. The Conference Board said its leading economic index rose by 0.2 percent in November after falling by a revised 0.3 percent in October. Street had expected the index to come in unchanged compared to the 0.1 percent uptick originally reported for the previous month.

Dow Jones Industrial Average dropped 464.06 points or 1.99 percent to 22859.60, Nasdaq plunged 108.42 points or 1.63 percent to 6528.41 and S&P 500 was down by 39.54 points or 1.58 percent to 2467.42.

Related News

View all news

US markets end higher after Trump says China trade talks to continue

The US markets ended higher on Friday after key negotiators cast a positive glow on trade talks. US Secretary of Treasury Steven Mnuchin indicated that bilateral talks were constructive even though an......

US markets lower after US President claims China broke the deal

The US markets ended lower on Thursday as trade tensions ramped up after US President Donald Trump threatened tariff retaliation on China, which he claims broke the deal. Anxiety over the prospect of a......

US markets end mostly lower on Wednesday

The US markets ended mostly lower on Wednesday as worries over US-China trade talks lingered. A notice in the Federal Register formally laid the groundwork to raise tariffs on $200 billion of Chinese imports......

Top News

View all news

SRF, NIIT Technologies and United Bank of India to see some action today

SRF has entered into a definitive agreement to sell its Engineering Plastics Business to DSM, the Life Sciences and Materials Sciences Company in an all-cash transaction, amounting to Rs 320 crore. The......

NIIT Technologies concludes sale of 88.99% stake in ESRI India Technologies

NIIT Technologies has concluded the sale of 88.99% equity shares in ESRI India Technologies, India to Environment Systems Research Institute Inc., USA. Consequent to above sale, ESRI India Technologies,......

United Bank of India to raise Rs 1,500 crore by various means

United Bank of India has received approval to raise equity capital not exceeding Rs 1,500 crore in one or more tranches during the financial year by way of Qualified Institutions Placement, Public Issue,......