Wall Street experienced its worst day today 2012 and strung five consecutive days dragged down by renewed worries about the debt crisis of the euro area and the excitement generated by the start of the season for the dissemination of U.S. corporate results.
The Dow Jones industrial flooring the main reference of New York, played down over 200 points for the second time so far this year after losing 1.65%, its biggest decline in 2012 and with which it moves further away from the symbolic barrier of 13,000 points it lost yesterday.
This indicator is at 12,715.93 points, its lowest level since last February 2, but still accumulates a gain of 4.08% since the beginning of the year.
Also Tuesday was the worst year for the S & P 500, down 1.71% and is also far from the level of the 1,400 points he had tasted lately, while the composite index the Nasdaq Stock Market fell 1.83% to lose altitude of 3,000 units.
In the minds of investors on Tuesday were still disappointing data on job creation in the U.S. during March showed on Friday, who had already given the declines of 1% on Monday on Wall Street.
A recovery doubts about the labor market concerns joined imported from Europe, where the main stock markets gave a strong bump after four days of vacation: Milan fell 4.98%, 3.08% Paris, 2.96% Madrid, Frankfurt and London 2.49% 2.24%.
European investors reacted to the marked downward trend to U.S. employment data, but also had a hand in their decline lingering doubts about the ability of peripheral European countries to meet its deficit targets.
So, Wall Street was particularly concerned about how the risk premium in Spain shot up 434 basis points, the highest close since November, and how of Italy rose to 404, which he touched levels not seen since the end January.
In the heavy losses of parquet York also influenced the decline in the confidence of U.S. small businesses in March, the first six months, overshadowing the 0.9% increase in wholesale inventories in February, higher than forecasts analysts.
It is also a palpable nervousness widespread by the beginning of the season for the dissemination of U.S. corporate results, used to take the pulse of the state of the economy of this country and that started after the markets closed with the publication of accounts aluminum producer Alcoa.
The firm ended the day with a decline of 2.92%, but in extended trading after closing up a stunning 5.36% after announcing that in the first quarter of 2012 earned $ 94 million (9 cents per share) , 69.5% less year but above analysts’ expectations.
Experts predicted a loss of 4 cents per share, so the numbers were very pleasantly surprised investors and eased the concern generated by this time broadcast in the U.S. account, which no doubt investors will look with magnifier at a time uncertainty about the recovery of the world’s largest economy.
Despite the bad day on Wall Street, the technology giant Apple succeeded in making at it again by reaching a new high in the stock price of $ 644, pushing market capitalization the world’s most valuable company to temporarily exceed the 600,000 million.
The creator of the iPhone thus became the second company in the history of Wall Street that breaks that barrier after Microsoft (which it did in December 1999), but after reaching that record their actions fell back to close with a decline of 1.22%.
Category: Stock Market Trading