US sharemarkets fell in line with European markets on Tuesday due to weakness in the energy sector. But defensive areas like telecom, utilities and consumer staples received support. At the close of trade to go the Dow Jones was lower by almost 296 points or 1.8% after being down 341 points at one stage. The S&P 500 fell by 1.9% and the Nasdaq was lower by 103 points or 2.2%. Global oil prices fell again on Tu...
US sharemarkets fell in line with European markets on Tuesday due to weakness in the energy sector. But defensive areas like telecom, utilities and consumer staples received support. At the close of trade to go the Dow Jones was lower by almost 296 points or 1.8% after being down 341 points at one stage. The S&P 500 fell by 1.9% and the Nasdaq was lower by 103 points or 2.2%.
Global oil prices fell again on Tuesday. Analysts continue to express doubts about the likelihood of an agreement by major oil producers to limit production. And prospects of mild weather in the US over the next few weeks may serve to limit short term demand for heating oil. Brent crude fell by US$1.52 or 4.4% to US$32.72 a barrel. US Nymex fell by US$1.74 or 5.5% to US$29.88 a barrel.
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