U.S. stocks opened lower Thursday—on the right track for his or her sixth straight day-to-day drop and the longest losing streak on account that February—after the Federal Reserve, the financial institution of England and the bank of Japan raised concerns about subsequent week’s so-referred to as Brexit referendum.
U.okay. voters head to the polls on June 23 to come to a decision whether or not to remain a member of the eu Union. Economists and market strategists say an “out” vote could instigate common turmoil in world markets.
including to the bearish sentiment was a pointy drop in oil costs CLN6, -2.19% along with news that a reading on U.S. inflation neglected expectations, whereas preliminary jobless claims rose.
The S&P 500 SPX, -0.eighty five% shed 13 points, or 0.6%, to 2,058, led via a 1.1% drop in power shares and a 1% drop in monetary shares. The utilities and consumer-staples sectors, which might be traditionally viewed as security performs in times of market turmoil, have been the one sectors in sure territory, up zero.four% and no more than zero.1% respectively.
The Dow Jones Industrial moderate DJIA, -zero.79% misplaced 113 points, or 0.6%, to 17,525, led by means of a 2% drop in Nike Inc. NKE, -2.15% and a 1.eight% drop in Goldman Sachs group Inc. GS, -1.39% Merck & Co. Inc. MRK, +1.00% used to be best the beneficial properties, up 0.5%.
The Nasdaq Composite COMP, -zero.89% slid 34 points, or zero.5%, to 4,812.
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