Monexnews-most traded stock on Wall Street weakened on Thursday following some disappointing economic data, amid concerns that the Federal Reserve might stop the program purchase its assets more quickly than expected.
Dow Jones Industrial Average plunged about 70 points, led by shares of Home Depot and Bank of America. S&P 500 and Nasdaq Composite were also under pressure, where each has lost 0.7% and 1.1% so far.
From the fundamental side, reports the Federal Reserve Bank of Philadelphia showed business activity index shrank sharply to-12.5 in February from 5.8 in January. The weekly jobless claims Data released by the U.S. Labor Department also showed an increase as much as 20,000 to 362,000, which is much worse than eskpektasi the increase be 355.000. The consumer price index was also flat for the 2nd month in a row earlier in the year 2013 as the fall in the price of gasoline and groceries.
While back home sales data released by the National Association of Realtors showed only a thin gain 0.4% to 4.920.000 units, with the availability of new homes for sale dropped to the lowest level in more than 13 years.
Previously the risk investors sentiment has been depressed by the latest policy meeting minutes, the Federal Reserve, where some U.S. policymakers began to worry about the impact of quantitative easing (QE3). They also called for the Fed to consider the termination of the asset purchase programme worth $ 85 billion per month more quickly. (vid)
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