Arab Today, arab today us stocks drop big banks hit by tougher capital rules
Last Updated : GMT 05:26:44
Arab Today, arab today
Arab Today, arab today

US stocks drop, big banks hit by tougher capital rules

Arab Today, arab today

Arab Today, arab today US stocks drop, big banks hit by tougher capital rules

Traders work on the floor of the New York Stock Exchange
New York - AFP

Wall Street stocks fell Tuesday, pulled down by major banks after the Federal Reserve signalled more stringent capital requirements.
Underwhelmed Apple investors meanwhile sent its shares lower after its much-awaited product launch, adding to a broader tech sector selloff.
The Dow Jones Industrial Average lost 97.55 points (0.57 percent) at 17,013.87.
The broad-based S&P 500 dropped 13.10 (0.65 percent) to 1,988.44, while the tech-rich Nasdaq Composite Index fell 40.00 (0.87 percent) to 4,552.29.
Dow members JPMorgan Chase and Goldman Sachs fell by 1.4 percent and 1.5 percent, respectively, and Morgan Stanley sank 2.7 percent after a top US Fed official said the largest banks with high dependence on short-term funding would have tougher capital rules, to ensure they do not place the financial system at risk.
The market was lower in early trade and the losses accelerated in the afternoon after Apple, the largest US company by market capitalization, unveiled new iPhones, a mobile-payment system and a smartwatch.
Jack Ablin, chief investment officer at BMO Private Bank, said investors appeared to be disappointed; Apple's shares ended down 0.4 percent.
"Investors have come to expect game-changers from this company and anything short of that is a disappointment," he said.
Dow member Home Depot fell 2.1 percent after confirming that its payment data systems had been breached, potentially affecting customers using charge cards in the US and Canada.
McDonald's, another Dow member, dropped 1.5 percent as it reported that August global comparable sales fell 3.7 percent due in part to 14.5 percent decline in its Asia/Pacific, Middle East and Africa division following a food safety scandal in China.
Online retail giant Amazon sank 3.7 percent after it slashed the price of its Fire smartphone from $199 to 99 cents with a two-year contract. Analysts saw the price cut as a sign the phone is selling poorly.
Food company General Mills declined 0.6 percent after announcing that it would acquire organic foods company Annie's in a deal valued at $820 million. General Mills said the purchase would enhance its position in an increasingly popular business segment.
Shares of Annie's surged 37.6 percent.
Bond prices fell. The yield on the 10-year US Treasury rose to 2.50 percent from 2.47 percent Monday, while the 30-year increased to 3.23 percent from 3.22 percent. Bond prices and yields move inversely.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us stocks drop big banks hit by tougher capital rules Arab Today, arab today us stocks drop big banks hit by tougher capital rules

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today us stocks drop big banks hit by tougher capital rules Arab Today, arab today us stocks drop big banks hit by tougher capital rules

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday