NEW YORK, Dec 27: US stocks fell on Thursday after a weak durable goods report raised concerns about the outlook for the economy and assassination in Benazir Bhutto sparked worries about global political stability.
“Durable goods was weak and set the market off to a weak footing. But it was the unfortunate death of Benazir Bhutto in Pakistan that grabbed the headlines. That’s a global stability story,” said Peter Kenny, managing director at Knight Equity Markets in Jersey City, New Jersey.
“Financials are continuing to languish, and will probably do so until the end of the year,” he added.
The Dow Jones industrial average was down 123.4 points, or 0.91 per cent, at 13,428.21. The Standard & Poor’s 500 Index was down 11.50 points, or 0.77 per cent, at 1,486.16. The Nasdaq Composite Index was down 25.97 points, or 0.95 per cent, at 2,698.44.—Reuters
