4/7/2016, 10:15 PM (Source: TeleTrader)
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Closing bell: S&P erases 2016 gains, Nasdaq down 1.51%

Stocks in the United States traded over 1% lower on Thursday, with heavy burden in financial sector after Japanese yen appreciated to ¥108 mark against the dollar. Weekly jobless claim was down to 276 thousand, indicating strong job market. Consumer credit data show a rise of 5.8% in February. Oil prices kept falling throughout the day. The strength of Japanese yen was main source of concern coupled with worries about effectiveness of the policies of central banks.

The Dow Jones Industrial Average fell 0.97% to 17,544 points. All sectors were in decline. Best performers: United Technologies Corporation rose 0.59%, McDonald's held up 0.42% and 3M Company edged up 0.22%. Decliners: The Goldman Sachs Group, Inc. down 3.22% and JPMorgan Chase & Co. dropped 2.61%, as the two investment banks suffered on strength of yen. Verizon fell 3.07% following media reports on probable bid for Yahoo! Inc. (down 1.34%).

The S&P 500 dropped 1.20% to close at 2,041 points. Best performers: Wynn Resort Limited up 11.66%, Southwestern Energy Company 3.91%, Cabot Oil & Gas Corporation 3.89%. Worst performers: Freeport-McMoRan Copper & Gold Inc. down 7.86%, CarMax slumped 7.38% after earnings report, and F5 Networks, Inc. 5.94%.

The tech-heavy Nasdaq 100 suffered most, rolling down 1.51% to 4,475 points. Day's winners: Cerner Corporation up 1.366%, Express Scripting Holding Company 1.35%, Vodafone Group Plc 1.08%. Decliners: Alexion Pharmaceuticals sunk 5.73%, Vertex Pharmaceuticals Incorporated 5.49%, eBay Inc. 5.23%, while Sirius XM Holdings seem to have mixed up some radio channels, selling off in volume to drop 2.68%. Tesla Motors, Inc. dipped 3.10%.

Nasdaq Composite finished down 1.47% at 4,848 points.

In Toronto, the main Canadian index, S&P/TSX lost 0.61% to close at 13,266 points.

The U.S. light sweet crude WTI for May delivery fell 0.80% to $37.45 a barrel, and international benchmark Brent for June delivery traded 0.63% lower at $39.61 a barrel at the ICE Europe by 10:00 p.m. CET (4:00 p.m. EDT).

The U.S. dollar index was up 0.09%. The greenback rose 0.26% against the euro, 0.50% versus the U.K. sterling, and 0.05% against the Swiss franc; it fell 1.28% against the very strong Japanese yen. Gold rose 0.91% to $1,240.78 per troy ounce by 10:14 p.m. CET (4:14 p.m. EDT).

Image: Nasdaq © Copyright 2015, Nasdaq, Inc.

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