Nasdaq 100 drops over 1% as US stocks extend losses

Tuesday, 25. June 2019 18:47

Stocks in the United States extended losses on Tuesday with the Nasdaq 100 sliding over 1% after St. Louis Federal Reserve President James Bullard said cutting rates by 0.5 points would be "overdoing" it. Investors also focused on the rising tensions between the US and Iran as US President Donald Trump threatened the Middle Eastern country with "obliteration" if it decides to carry out an attack on "anything American."

The Nasdaq 100 dropped 1.20% at 12:46 pm ET. Ctrip and Lululemon led the losses as their shares sank 3.71% and 3.22%, respectively, at 12:53 pm ET.

The Dow Jones fell 0.41% at 12:48 pm ET with Microsoft, down 2.75% at 12:57 pm ET, as the worst performer.

The S&P 500 declined 0.58% at 12:48 pm ET. AbbVie pulled the index down as its shares plummeted 15.42% at 12:43 pm ET after the company announced it is acquiring Allergan for $63 billion.

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Breaking the News / NP