NEW YORK – The Dow Jones corrected 83 points at the close of trading Thursday (3/12/2009) local time. Concerns about the economy has worried some investors, after the Institute for Supply Management’s report that the index of service sector activity in the United States (U.S.) fell to 48.7 in November. That’s far below the predicted number of analysis dikisaran 51.5.
As reported by the Assosiated Press, on Friday (4/12/2009), in addition investorpun waiting for a report on the government’s unemployment data in November. Observed, a number of leading stocks began falling in the last half hour of trade and increased drop in the final 20 minutes before the end of the closure.
Wall Street had advanced in early trading after the Labor Department reported that new claims for unemployment benefits unexpectedly fell for a fifth week and the Bank of America (BoA) announced Wednesday night that they will pay the USD45 billion government bailout money funds.
In addition, a separate government report explained that the economic productivity rose by the largest amount in the last six years in the July-September quarter this year, while labor costs declined. Labor Department said productivity increased at an annual rate of 8.1 percent in third-quarter 2009, the biggest jump since 2003, while unit labor costs fell 2.5 percent level.
Sentiment carried the Dow Jones Industrial Average fell 86.53 points, or 0.83 percent equivalent to 10,366.15. While the index Standard & Poor’s 500 come down 9.32 points, or 0.8 percent at the equivalent 1099.92 and the Nasdaq index 11.89 points corrected averaged 0.54 percent to 2173.14.
