News Column

Wall Street`s takes another fall as global worries persist

February 1, 2014

U.S. stock markets ended lower Friday, and the Dow Jones its worst decline since May 2012 , as markets were filled with concerns over the sell-off in emerging markets, and as Amazon.com and Mattel declined. The declines in the U.S. followed a fall in European stocks on Friday, after data showing a return of record-low inflation in the euro zone underscored the fragility of the region`s economic recovery. The Stoxx Europe 600 was down 0.3%. This month, investor tension has been fueled by whipsaw trading in emerging markets as concern about the impact of the Federal Reserve`s move to pare its monetary stimulus. In the final minutes of January trading, the Dow was on pace for its biggest monthly decline since May 2012 , when at that time Spanish banking troubles threw the euro zone`s prospects into question. -The Dow Jones Industrial Average fell 0.94% to 15698.85 . The index has lost 5.3% this month, after closing at a record higher on December 31 . -The S &P 500 Index fell 0.74% to 1780.96 , and ended January with a loss of 3.49%. -The NASDAQ Composite fell 0.47% to 4103.88 , and suffered the smallest loss of benchmark stock indices by 1.74%. Corporate earnings Meanwhile, quarterly earnings news sparked volatile trading in single stocks. Amazon tumbled and Mattel declined by double digits Friday after their bottom lines fell short of analysts` forecasts. Google gained to put the stock in record territory, as the Web search giant`s fourth-quarter revenue exceeded forecasts, boosted by strong growth in paid clicks, overshadowing a slight earnings miss. Online and mobile-device videogame maker Zynga soared after announcing late Thursday it was buying mobile game maker NaturalMotion in a deal valued at $527 million . The company also said it was cutting 314 employees, or 15% of its workforce, and reported mixed fourth-quarter results.


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Source: ICN.com Financial Markets


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