Wall Street ended down Wednesday, weighed down by gloomy economic indicators that have raised the specter of a global slowdown, and the Standard & Poor's 500 has not reached during the meeting to exceed a threshold of significant resistance.
The S & P 500 has foundered on the threshold of 1360 points, which corresponds to a peak recorded in May 2011 and the crossing of which would have foreshadowed a continued bullish.
The benchmark index fund managers ended down 0.33% (4.55 points) to 1,357.66 points. The Dow Jones lost 0.21% (27.02 points) to 12,938.67 points while the Nasdaq composite yielded 0.52% (15.40 points) to 2,933.17 points.
Investor pessimism was fueled by the unexpected contraction of private sector activity in the euro area in February, according to preliminary estimates from Markit. In addition, export orders to China have suffered their contraction in February the highest in eight months.
"We had quite low statistics from Europe and China, but what has happened especially today (Wednesday) is that we lived another day of agitation while the S & P is so close to the key level of 1,360 points, "said Jack Degan, chief investment officer at Harbor Advisory.
PREDICTION OF DELL disappoints, TITLE PLONGE
"There is undoubtedly a technical effect on the market and sales of the movement today is related to that. If we cross this level and remain above the market may indeed rise again. "
Financial stocks were among sharpest declines in the session, as investors worried the banks' exposure to the European economy
……. .. The S & P financials yielded 1.27% and the KBW bank index lost 2.04%, while Morgan Stanley, Bank of America Corp., Citigroup abandoned between one and , 9% and 2.9%
. Dell plunged 5.82% to 17.15 dollars. The computer manufacturer has reported results below expectations on account of its fiscal fourth quarter and said, anticipating a revenue below Wall Street forecasts for the current quarter.
According to Thomson Reuters data, about 424 companies in the S & P 500 that have released their quarterly accounts, 64% have exceeded analysts' expectations.
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