Afternoon Markets: S&P slides over 1% on poor economic data

clock

US stock markets opened sharply lower in early trading following negative consumer and house price data.

The Dow Jones was down 83.74 points (0.81%) to 10,299, while the S&P 500 shed 12.56 points (1.13%) to 1,095. Investors were reacting to heavier than expected fall in the consumer confidence index - while house prices were also negative, plunging 2.5% during the final quarter of 2009. In London, the FTSE 100 fell in line with US losses, down 41.97 points (0.78%) to 5,310 by 4pm. Wolseley continued to lead risers, up 10.84% to £16.06. However, commodity-related stocks weighed on the market, with mining and energy shares among the biggest fallers - including Eurasian Natural Resources...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

2025 investment trends: The updated reality in wealth management

2025 investment trends: The updated reality in wealth management

'The future of wealth management will lie in personalisation'

Julia Khandoshko
clock 16 January 2025 • 4 min read
UK inflation lowers to 2.5% in December

UK inflation lowers to 2.5% in December

Down from 2.6% in November

Sorin Dojan
clock 15 January 2025 • 2 min read
'It's a challenging time': Advisers react to record gilt yield rises

'It's a challenging time': Advisers react to record gilt yield rises

Clients worried about a weakening UK economy

Isabel Baxter
clock 13 January 2025 • 5 min read