US shares plummeted throughout the day till the closing session regardless of cheerful and better than projected data released today with the Standard & Poor's 500 Index starting the year lower for the first time since 2008, after benchmark indexes posted the biggest annual rallies in more than 15 years. The Fed said last month it will start unwinding its bond purchases gradually till nothing by the end of 2014, with the a small start of reduction to $75 billion starting from January. Now on one hand today a report showed that the manufacturing conditions on the U.S. soil enhanced above what was projected by the market for the month of December. The headline index rose to 57.0 in December from November's 57.3; above the market predicted reading of 56.8, keeping in mind of course that a reading over 50 indicates more manufacturers are expanding instead of contracting. The increase in the index suggests that the pace of expansion in the American manufacturing sector is so far at a stable gradual pace and that expansion within this market remains spotted and accordingly continues on supporting the country's growth. On the other hand another report showed that first-time jobless Americans asking for benefits dropped by 2,000 in the week ended December 28 to 339,000 from a revised of 341,000, compared with median forecast of 344,000. The drop was due to the end of fluctuations occurred on the back of the year-end holidays. Standard and Poor`s plunged 0.89% to reach 1831.98 points, as of 16:15 EST . As of 16:15 EST , Dow Jones edged down 00.82% to 16441.35 points, and NASDAQ slumped 0.80% to 4143.07 points.
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