Feb. 12 (Bloomberg) -- U.S. stockstumbled, extending a global slide in equities, as jobless claims climbed to a record and investors speculated government measures will fail to revive the world’s economy.
Bank of America Corp., American Express Co. and Home Depot Inc. declined more than 3.5 percent after the total number of Americans collecting unemployment benefits reached 4.81 million. Electricite de France SA, the biggest operator of nuclear reactors, and Diageo Plc, the largest liquor maker, sank more than 3 percent in Europe after posting disappointing results. Crude oil fell to a three-week low while gold traded near a six- month high as investors sought a haven from risky assets.
“The market is deeply cynical of what’s going on and no one in Washington has any more idea than a goat what they’re doing,” said Peter Sorrentino, who helps manage $15.5 billion at Huntington Asset Management in Cincinnati. “Unemployment numbers are going to be bad for a while.”
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