U.S. Stocks Slide for Fourth Day Amid Brexit Concern Before Fed
Wednesday, 15 June 2016 03:14 WIB |
MARKET UPDATE |S & P 500 Standard & Poor's 500Saham AS
U.S. stocks retreated for a fourth day, the longest since February, amid growing uncertainty about the U.K.’s future in the European Union and as investors awaited Wednesday’s Federal Reserve announcement.
Equities fell, but not before staging a furious rebound amid gains in technology and consumer staples shares, rising from the day’s lows in the final hour to pare much of the session’s losses that reached as much as 0.7 percent in the S&P 500 Index.
The S&P 500 slipped 0.2 percent to 2,075.40 at 4 p.m. in New York, remaining at a three-week low. The gauge dropped below its average price during the past 50 days, which then became the ceiling on the late-day recovery.
As policy makers and investors scrutinize data to weigh U.S. growth, a report today showed retail sales rose more than forecast in May, indicating consumer spending will help boost second-quarter growth. A separate gauge showed inflation pressures are building. The costs of goods imported into the U.S. climbed 1.4 percent in May, the biggest gain in four years.