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December 14, 2017
Friday, March 13, 2015

Wall St resumes decline as dollar hits 12-year high

US stocks fell today and the Dow and S&P 500 registered a third week of losses as the dollar resumed its climb, adding to worries about the impact on US multinationals' earnings.

Major indexes ended off the day's lows, however, as traders took some profits on short positions ahead of the weekend, analysts said.

The dollar hit a fresh 12-year high against the euro as dollar-buying momentum overcame soft US economic data that would normally weaken it.

The Dow Jones industrial average fell 145.91 points, or 0.82 percent, to 17,749.31, the S&P 500 lost 12.55 points, or 0.61 percent, to 2,053.4 and the Nasdaq Composite dropped 21.53 points, or 0.44 percent, to 4,871.76.

For the week, the Dow was down 0.6 percent and the S&P 500 fell 0.9 percent. The Nasdaq was down 1.1 percent for the week.

Stocks in Europe continued to be supported by the massive bond-buying program at the European Central Bank. The FTSEurofirst 300 pan-European index closed up 0.3 percent.

Meanwhile, Japan's Nikkei hit a fresh 15-year high today and posted fifth consecutive weeks of gains as industrial robot maker Fanuc Corp jumped 13 percent on a report that it will consider raising its dividend and buying back stock.

The Nikkei share average ended 1.4 percent higher to 19,254.25 points, the highest closing level since April 2000. For the week, the index rose 1.5 percent, advancing for a fifth week.

The market was also underpinned by fresh fund inflows unleashed by the European Central Bank's quantitative easing.

The broader Topix rose 0.9 percent to 1,560.33, posting eight straight weeks of gains and touched a seven-year high. Thirty of its 33 subsectors were in positive territory.

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Tags:  US  stock market  Europe  Nikkei  





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Edition No. 5055 - This publication is a property of NEFIR S.A. -RNPI Nº 5343955 - Issn 1852 - 9224 - Te. 4349-1500 - San Juan 141 , (C1063ACY) CABA - Director Perdiodístico: Ricardo Daloia