US stocks dip as dollar strengthens again

GMT 22:06 2015 Wednesday ,11 March

Arab Today, arab today US stocks dip as dollar strengthens again

US stocks finished lower Wednesday
New York - AFP

US stocks finished lower Wednesday in choppy trade as the dollar hit a new 12-year high against the euro.
At the closing bell, the Dow Jones Industrial Average stood at 17,638.34, down 24.60 points (0.14 percent).
The broad-based S&P 500 shed 3.70 (0.18 percent) at 2,040.46, while the tech-rich Nasdaq Composite Index lost 9.85 (0.20 percent) at 4,849.94.
Equity markets continued to watch the dollar, which rose to a fresh 12-year high against the euro two days after the European Central Bank launched a massive government bond-buying stimulus program.
Some analysts have expressed worry at the speed of the dollar's ascent and the possible drag on US exports.
"You have central banks at a crossroads," said Brent Schutte, market strategist at BMO Global Asset Management.

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