mardi 31 mars 2015
Euro posts record quarterly drop; Wall St ends day lower
Posted on 15:36 by nice news
The euro closed out the worst quarter in its 15-year history on Tuesday, slammed by monetary policy changes and worries about Greece, while U.S. stocks retreated a day after posting big gains.
But the S&P 500 and the Nasdaq registered their ninth straight quarterly gains.
The euro skidded 11 percent against the dollar in the first quarter reflecting investors' expectations of divergent monetary policies. Investors are betting that the U.S. Federal Reserve will raise interest rates this year, while the European Central Bank's one-trillion-euro economic stimulus program is weakening the euro.
The euro on Tuesday was down 0.8 percent against the dollar. The greenback marked its biggest quarterly rise against the world's top six currencies since 2008.
On Wall Street, energy shares were among the biggest drags, falling in tandem with a decline in crude oil prices, offsetting a lift from two days of corporate takeover announcements, including several biotech deals on Monday and Charter Communications' plan to buy Bright House Networks for roughly $10 billion.
The Dow Jones industrial average fell 200.19 points, or 1.11 percent, to 17,776.12, the S&P 500 lost 18.35 points, or 0.88 percent, to 2,067.89, and the Nasdaq Composite dropped 46.56 points, or 0.94 percent, to 4,900.88.
But the S&P 500 and the Nasdaq registered their ninth straight quarterly gains.
The euro skidded 11 percent against the dollar in the first quarter reflecting investors' expectations of divergent monetary policies. Investors are betting that the U.S. Federal Reserve will raise interest rates this year, while the European Central Bank's one-trillion-euro economic stimulus program is weakening the euro.
The euro on Tuesday was down 0.8 percent against the dollar. The greenback marked its biggest quarterly rise against the world's top six currencies since 2008.
On Wall Street, energy shares were among the biggest drags, falling in tandem with a decline in crude oil prices, offsetting a lift from two days of corporate takeover announcements, including several biotech deals on Monday and Charter Communications' plan to buy Bright House Networks for roughly $10 billion.
The Dow Jones industrial average fell 200.19 points, or 1.11 percent, to 17,776.12, the S&P 500 lost 18.35 points, or 0.88 percent, to 2,067.89, and the Nasdaq Composite dropped 46.56 points, or 0.94 percent, to 4,900.88.
Euro posts record quarterly drop; Wall St ends day lower
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