Arab Today, arab today us stocks tumble as market digests cyprus deal
Last Updated : GMT 13:50:43
Arab Today, arab today
Arab Today, arab today

US stocks tumble as market digests Cyprus deal

Arab Today, arab today

Arab Today, arab today US stocks tumble as market digests Cyprus deal

New York - AFP

US stocks tumbled Monday after a top European finance official suggested that the Cyprus bailout framework could serve as a template for other European bank crises. The Dow Jones Industrial Average was down 64.28 (0.44 percent) to 14,447.75. The broad-based S&P 500, which had been within striking distance of an all-time high, dropped 5.20 (0.33 percent) to 1,551.69. The tech-rich Nasdaq Composite Index finished 9.70 (0.30 percent) lower at 3,235.30. Stocks opened the day higher after the Cyprus bailout plan was sealed overnight Sunday in an 11th hour deal. \"It\'s good news that disaster was avoided. But the bad news is that there\'s a cost to it,\" said Art Hogan of Lazard Capital Markets. But by midday, markets tumbled after Jeroen Dijsselbloem, who heads the eurozone finance ministers group, told the Financial Times that the costs of bank recapitalizations shouldn\'t fall on the public sector, but on bondholders, shareholders and, if necessary, uninsured deposit holders. Markets across Europe and in the US fell after the remarks, which were taken to suggest a new template for banking crises in other European countries. Dijsselbloem subsequently released a statement via Twitter that characterized Cyprus as a \"specific\" case. Trade was heavy in Dell as a bidding war emerged for the computer manufacturer, sending its shares up 2.6 percent to $14.51. Wall Street activist Carl Icahn and private equity firm Blackstone Group submitted rival offers to founder and chief executive Michael Dell\'s $24.4 billion bid to take the company private, valuing it at $13.65 per share. Discount retailer Dollar General Corp. gained 2 percent after besting earnings estimates and forecasting a strong year in 2013. The company projected same-store growth of four to six percent in 2013. Apollo Group, which provides online educational programs, jumped 7.1 percent after reporting earnings that beat expectations and sticking to its 2013 forecast. Blackberry shares fell 4.6 percent in the wake of the launch of its Z10 smartphone in the US market on Friday. Electronics Best Buy picked up 1.8 percent after announcing that founder Richard Schulze was returning to the company as chairman emeritus. Oracle dropped 2.3 percent after it announced it was purchasing Tekelec, a provider of network signaling and data management technology for an undisclosed sum. Biotechnology company United Therapeutics Corp. lost 2.2 percent after the Federal Drug Administration declined to approve a new drug for treating pulmonary arterial hypertension. Bond prices were unchanged from Friday. The yield on the 10-year Treasury remained at 1.92 percent, while the 30-year stood at 3.14 percent. Bond prices move inversely to yields.

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 tumble as market digests cyprus deal Arab Today, arab today us stocks tumble as market digests cyprus deal

 



Arab Today, arab today
Arab Today, arab today Kanye West puts hijab-wearing model

GMT 12:22 2017 Monday ,20 February

Kanye West puts hijab-wearing model
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 09:49 2017 Saturday ,18 February

Qatar Stock Exchange Index Gains 190.17 Points This Week

GMT 09:15 2017 Friday ,17 February

Asia stocks retreat after week-long Trump rally

GMT 08:14 2017 Friday ,17 February

Bahrain Bourse daily trading report

GMT 21:28 2017 Thursday ,16 February

US Stocks End High on Tuesday

GMT 21:18 2017 Thursday ,16 February

Chinese Yuan Strengthens to 6.8632 Against USD Wednesday

GMT 09:55 2017 Thursday ,16 February

Robust Omani Riyal exchange rate affirmed
View News in Arabic - Business: أسواق مالية
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 16:08 2017 Wednesday ,15 February

Shawsh reveals her collection "Jewelry of dreams"

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 17:36 2017 Monday ,13 February

Designer prepares to present 2017 collection
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