Energy producers were especially weak as oil continued to fall from its recent peaks. Chevron gave up 1.2 per cent to $70.27, while ExxonMobil lost 1.4 per cent to $70.39.
Gillian Tett: Could Ã¢â‚¬ËœTobin taxÃ¢â‚¬â„¢ reshape financial sector DNA? – Aug-27
NYSE Euronext acquires NYFIX in $144m deal – Aug-27
Miners and banks lead FTSE 100 lower – Aug-27
Banks and utilities shine in Europe – Aug-27
US inventory gains leave oil prices lower – Aug-27
Yen rises on fears over global recovery – Aug-27
Metal producers also dropped. Copper miner Freeport-McMoRan fell 0.9 per cent to $62.55 and Nucor, the steel maker, shed 1.6 per cent to $44.54.
By midday, the benchmark S&P 500 was down 0.6 per cent at 1,022.13, while the Nasdaq Composite index was 1 per cent lower at 2,005.23.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.