US stocks dip on recovery concerns
New York: US stocks dipped as investors mulled a mixed batch of economic data that cast a cloud over hopes for an improved recovery from recession and braced for a key jobs report.
The Dow Jones Industrial Average fell 86.91 points (0.83 percent) to 10,365.77 at the market close. The Nasdaq composite slid 12.01 points (0.55 percent) to 2,173.02 and the broad-market Standard and Poor`s 500 index dropped 9.23 points (0.83 percent) to a preliminary 1,100.01.
The market had spent much of the session nearly unchanged "as traders grapple with a plethora of data, which is injecting some uncertainty into the economic recovery argument," said Charles Schwab & Co analysts in a note to investors.
The action came a day ahead of the government`s November labour report, expected to show the unemployment rate held steady at 10.2 percent and the economy shed 125,000 non-farm jobs, down from 190,000 in October.
More from India
More from World
More from Sports
More from Entertaiment
- Discussion over BJP's enormous victory in Maharashtra civic polls
- UP polls: Top 5 highlights of PM Modi's speech in Bahraich
- BMC elections 2017: Who will be the Mayor of Mumbai?
- Is Samajwadi Party-Congress alliance just a compulsion for Akhilesh Yadav?
- NASA discovers seven Earth-like planets orbiting a single star
- Reliance Jio Vs Airtel free data plan: A comparison
- BMC election 2017 results: As it happened
- Maharashtra Civic Poll Results 2017: As it happened on Thursday
- WATCH: When Matthew Renshaw left everybody surprised by 'retiring ill' on Day 1 of India-England Test
- World's heaviest woman loses 50 kilos in just 12 days