Dow loses 400pts after downbeat data

Friday, 14. December 2018 17:29

The dollar's rally against major currencies on Friday, except the Japanese counterpart, failed to help stocks in the United States. Investors turned to what they judged were safer assets, like the yen and domestic sovereign debt securities and their equivalents in Europe.

Sentiment suffered amid Brexit risk, but especially after a string of unfavorable US macroeconomic data. Import prices dropped last month, parallel to revisions for industrial production and the slowdown reported by the private sector.

The Dow Jones Industrial Average index, the oldest one in New York, fell 1.62% or just above 400 points at 5:29 pm CET, to 24,196.84. Johnson and Johnson nosedived 11.47% to $130.88 per share, a four-month low, on reports it was aware of asbestos in its baby powder. The S&P 500 was down 1.23% and the Nasdaq 100 lost 1.31%.

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