Diane Alter – AHN News Reporter
New York, NY, United States (AHN) – U.S. stocks fell on the open Thursday following a string of weak economic reports that sparked worries about slowing growth in the U.S. and abroad.
Just before 10 a.m. on Wall Street, the Dow Jones Industrial Average slipped 56 points, the Standard & Poor’s 500 Index dropped 8 points and the NASDAQ gave back 13 points.
Weighing on stocks all week were several reports that showed a dismal reading on durable goods orders, falling consumer confidence and falling home prices, coupled with ongoing concerns about a global slowdown, especially in stalwart China.
Disappointing jobless claims on Thursday also didn’t help markets.
Thursday’s early declines followed Wednesday’s closing in the red amid worries about slowing growth abroad and inadequate data in the United States.
In world markets Thursday, Asia ended lower and European stocks fell in afternoon trading.
In currencies and commodities, the dollar lost ground against the Japanese yen, but strengthened against the euro and the British pound.
Oil for May delivery was nearly unchanged at $105.40 a barrel, and gold futures for April delivery tacked on $2 to $1,660.20 a troy ounce.
