U.S. Stocks kept on pacing declines to actually close Wednesday’s trading session in red, despite a governmental report which showed that orders of durable goods came out better than forecasts in the past month, as concerns bond holders may incur tremendous losses over their holding in Greece dampened optimism spread over the debt-laden country as European leaders seem to be divided over a common ground to prevent Europe’s debt woes from getting worse.
The Dow Jones Industrial Average index shed 179.79 points or 1.61% to close at 11010.90 levels, the index reached the highest point at 11317.08 and the lowest point at 10996.98, By closing all 30 shares declined.
The Standard & Poor’s 500 Index lost 24.32 points or 2.07% to close at 2491.58 levels, the index reached the highest point at 1184.71 and the lowest point at 1150.40, By closing 14 shares inclined while 482 shares declined and 4 shares remained unchanged.
The NASDAQ Composite Index declined 55.25 points or 2.17% to close at 2491.58 levels, the index reached the highest point at 2569.79 and the lowest point at 2491.07, By closing 371 shares inclined while 1997 shares declined and 239 shares remained unchanged.
Now, Dow Chemical Co and Alcoa Inc lost 6.24 percent and 4.91 percent respectively, following declines among raw materials companies, in addition financials shares declined and were led by Citigroup Inc shedding nearly 3.9 percent.
While leading gains among the Technology shares, Amazon.com Inc surged 2.45 percent after the world’s largest online retailer unveiled its Kindle Fire tablet computer.
Moreover, Boise Inc slid 9.76 percent after JPMorgan Chase & Co cut its recommendations for the shares, while also Ralph Lauren Corp plunged 3.37 percent after being downgraded at Citigroup Inc, which made the share less tempting to buy.
Furthermore, Darden Restaurants Inc dropped 5.70 percent, after reporting first quarter results that missed analysts’ median estimates, on the other hand, Comtech Telecommunications Corp slashed 1.08 percent, despite the company raised its 2012 earnings forecasts.
Virgin Media Inc increased 0.44 percent after being upgraded to “buy” from “neutral” at Nomura International Plc, whereas Progress Software Corp slumped 8.20 percent after slashing its fourth-quarter earnings forecasts.
The Dollar index which measures the performance of the U.S. dollar against a basket of currencies including the Euro, the Pound, and the Yen, edged up from today's opening level of 77.88 to currently trade at 78.05 recording its highest level at 78.06 and its lowest at 77.31.
Gold prices tumbled to reach $1612.06 per ounce compared to the opening price of $1642.01. Crude Oil dropped to reach $80.83 after opening at $83.55 per barrel.