Tengku Zafrul says will seek to ‘correct errors’ in Zahid’s affidavit backing Najib’s bid for house arrest order
Also weighing on the benchmark S&P index after quarterly results were Prologis, with the warehouse-focused real estate investment trust dropping 7.19 per cent, and Abbott Laboratories, which fell 3.03 per cent after topping quarterly estimates but disappointing on its annual forecast.After a rally in the last two months of 2023 that extended into the first quarter, equities have struggled with the S&P 500 registering its fourth straight session of declines.
The Dow Jones Industrial Average fell 45.66 points, or 0.12 per cent, to 37,753.31, the S&P 500 lost 29.20 points, or 0.58 per cent, to 5,022.21 and the Nasdaq Composite lost 181.88 points, or 1.15 per cent, to 15,683.37. The Fed's Beige Book survey of economic activity showed a slight expansion from late February through early April and companies feared that progress in lowering inflation would stall.
Among gainers, United Airlines surged 17.45 per cent after it forecast stronger-than-expected current-quarter numbers, helping to boost the NYSE Arca airline index by 3.82 per cent. its biggest daily percentage jump since February 6.