US stocks fell in a broad selloff today, with the S&P 500 suffering its biggest one-day drop in more than a month, as economic data indicated weakness across the globe and the US holiday shopping season got off to a tepid start.
The day’s losses were broad, with seven of the ten primary S&P 500 sectors lower on the day. Only one group – utilities , which are a defensive play – rose sharply, while energy shares inched up a mere 0.1 percent despite a rebound of 3.7 percent in the price of crude oil.
Apple Inc was one of the biggest weights on the session, falling 2.3 percent to $116.15 in its biggest one-day decline since September. The tech giant tumbled shortly after the open, falling more than 3 percent in a minute that also saw the largest one-minute volume in more than a month.
The Dow Jones industrial average fell 11.27 points, or 0.06 percent, to 17,816.97, the S&P 500 lost 9.05 points, or 0.44 percent, to 2,058.51 and the Nasdaq Composite dropped 45.06 points, or 0.94 percent, to 4,746.57.
Across the Atlantic, European shares also fell, led lower by oil and mining stocks, as weak Chinese and euro zone economic data fuelled a rout in the commodities market.
Shares in Vodafone were the biggest losers among the region’s blue-chips, down 2.9 percent on talk it could bid for cable operator Liberty Global.
The FTSEurofirst 300 index of top European shares ended 0.5 percent lower at 1,385.27 points.
Last week’s sell-off in oil majors and oil services firms resumed as Brent crude oil tumbled to a five-year low below $68 a barrel, before bouncing back.
Royal Dutch Shell shed 0.5 percent, Fugro fell 3 percent and ENI lost 2.5 percent.
Meanwhile, Nikkei and Japanese government bond futures dipped today after Moody’s downgraded Japan’s sovereign credit rating.
In after hours trading, December 10-year JGB futures was down 0.06 point at 146.87 and the Nikkei futures shed 0.7 percent.
Moody’s downgraded Japan on Friday to A1 from Aa3, with the outlook at stable.
The rating agency said «heightened uncertainty over the achievability of fiscal deficit reduction goals» was the key driver for the downgrade.
buenosairesherald.com