Wall Street ends lower with Washington turmoil, earnings in view | Malay Mail

The Dow Jones Industrial Average fell 89.28 points, or 0.29 per cent, to 31,008.69, the S&P 500 lost 25.07 points, or 0.66 per cent, to 3,799.61 and the Nasdaq Composite dropped 165.54 points, or 1.25 per cent, to 13,036.43. — Reuters pic

But some investors worried stimulus could be delayed as House Democrats introduced a resolution to impeach US President Donald Trump, accusing him of inciting insurrection following a violent attack on the Capitol by his supporters. But US Treasury yields rose as safe haven bonds sold off yesterday and economically-sensitive sectors such as energy and financials outperformed while defensive bond proxy sectors like utilities and real estate sold off.

And along with wariness about Trump's last nine days in office, Lerner cited uncertainty ahead of the unofficial start of earnings season on Friday when banks such as JPMorgan report results. Shares of Twitter Inc tumbled 6.4 per cent and weighed on the communications sector after the micro-blogging site permanently suspended Trump's account. But it shares were still more than 160 per cent higher that where they traded before Trump won the Presidential election in 2016.

Boeing Co shares fell 1.5 per cent yesterday after a 737-500 jet operated by Indonesia's Sriwijaya Air with 62 people on board crashed on Saturday.

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Banks, energy stocks drag Wall Street lower; Biden’s presser in focus | Malay MailNEW YORK, March 25 — Wall Street’s main indexes fell today, dragged down by economically sensitive bank and energy stocks and shrugging off data showing the labour market continued to limp out of a coronavirus-induced recession. The Labour Department’s weekly jobless claims report, the most...
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