U.S. Stocks Join Global Slide, Nasdaq Composite Near Bear Market

U.S. stocks fell, with the Nasdaq Composite Index closing in on a bear market, as investors shunned risk worldwide amid concern that central-bank efforts to support growth are losing their potency.

The Standard & Poor’s 500 Index dropped 1.2 percent to 1,829.35 at 9:33 a.m. in New York, extending declines to a fifth day. The Nasdaq Composite fell 1.2 percent to edge closer to a 20 percent drop from its record.

Data today showed filings for unemployment benefits declined to a seven-week low as hiring managers demonstrated confidence in the outlook after temporary adjustments around the holidays. Reports on retail sales and consumer sentiment are due tomorrow.

The S&P 500 closed Wednesday 13 percent below its all-time high set in May, near its lowest level in two years. The benchmark hasn’t managed to post a gain in the past four sessions — another drop today would mark its longest losing streak since September. The Nasdaq Composite Index closed yesterday 18 percent below its record set in July.

Source: Bloomberg

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U.S. Stocks Slip, Nasdaq Composite Edges Closer to Bear Market

U.S. stocks slipped, with the Standard & Poor’s 500 Index holding near its lowest since April 2014 while the Nasdaq Composite Index edged closer to a bear market, amid declines in energy and technology shares.

Equity markets are attempting to stabilize after the Nasdaq Composite Index’s worst two-day selloff since August, and an early drop Tuesday that brought it within 1 percent of a bear market. Whipsaw moves in technology, consumer, health-care and industrial companies sent stocks careening between gains and losses throughout the session. Raw-material companies rallied amid weakness in the dollar, while energy sank with oil prices.

The S&P 500 slipped 0.1 percent to 1,852.36 at 4 p.m. in New York, after erasing an early 1 percent loss and climbing as much as 0.8 percent. The Nasdaq Composite Index fell 0.4 percent after lurching between gains and losses.

Source : Bloomberg

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