Morning Report 8 Mar 19: Stocks retreat as ECB reminds investors of economic headwinds

US sharemarkets fell on Thursday. The latest interest rate decision in Europe weighed on investor sentiment with the ECB downgrading economic growth forecasts. But data confirms a tight US job market with low wage pressures. Technology stocks were weaker but defensive shares rose in the utilities and real estate sectors. With an hour of trade to go, the Dow Jones index was lower by 250 points or 1.0%. The S&P500 index fell by 1.0%. And the Nasdaq index was down by 102 points or 1.4%.

 

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