Business News
US stocks retreat 1 per cent ahead of unemployment report
Sep 1, 2011, 20:49 GMT
New York - US stock indices slid by 1 per cent and more on Thursday as investors braced for the monthly unemployment report, ending a four-day rally.
After the Dow Jones Industrial Average returned to positive territory for the year Wednesday, it was back in negative territory after losing 1.03 per cent Thursday.
Markets have experienced more than a month of high volatility prompted by fears of recession and government debt woes in the US and abroad.
The blue-chip Dow shed 119.96 points to 11,493.57. The broader Standard & Poor's 500 Index lost 14.47 points, or 1.19 per cent, to 1,204.42. The technology-heavy Nasdaq Composite dropped 33.42 points, or 1.3 per cent, to 2,546.04.
The US currency gained against the euro to 70.01 euro cents from 69.56 euro cents on Wednesday. The dollar gained against the Japanese currency to 76.88 yen from 76.65 yen.
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