U.S. stocks extended losses on Wednesday after President Barack Obama warned against “casual indifference” toward Russia over military escalation in Crimea and urged more economic sanctions.
Early morning gains on the back of a strong headline number for durable-goods orders, as well as hopes for additional European and Chinese stimulus measures, had evaporated by mid afternoon in the US.
The S&P 500 was last down 4 points, or 0.2%, to 1,861.33. The Nasdaq Composite shed 33.71 points, or 0.8%, to 4,200.53. The tech-heavy index’s year-to-date gain of 0.6% is trailing the benchmark’s 0.7% gain since the start of the year.The Dow Jones Industrial Average dropped 50.11 points, or 0.3%, to 16,317.09.
Oil prices rose, but gold was slightly lower. The dollar index which measures the U.S. unit against a basket of six major rivals,is higher
Early morning gains on the back of a strong headline number for durable-goods orders, as well as hopes for additional European and Chinese stimulus measures, had evaporated by mid afternoon in the US.
The S&P 500 was last down 4 points, or 0.2%, to 1,861.33. The Nasdaq Composite shed 33.71 points, or 0.8%, to 4,200.53. The tech-heavy index’s year-to-date gain of 0.6% is trailing the benchmark’s 0.7% gain since the start of the year.The Dow Jones Industrial Average dropped 50.11 points, or 0.3%, to 16,317.09.
Oil prices rose, but gold was slightly lower. The dollar index which measures the U.S. unit against a basket of six major rivals,is higher