US stocks retreat from records

GMT 22:39 2015 Tuesday ,03 March

Arab Today, arab today US stocks retreat from records

US stocks
New York - AFP

Wall Street stocks retreated from record peaks Tuesday, losing ground after lackluster US auto sales.
At the closing bell, the Dow Jones Industrial Average stood at 18,203.54, down 85.09 (0.47 percent).
The broad-based S&P 500 fell 9.61 (0.45 percent) to 2,107.78, while the tech-rich Nasdaq Composite Index dropped 28.20 (0.56 percent) to 4,979.90.
Ford Motor fell 2.4 percent after reporting a 1.79 percent drop in February auto sales compared with a year ago. Toyota and Fiat Chrysler's US unit were among the other firms to report lower-than-expected sales, suggesting shoppers were put off by cold weather.
Michael James, managing director of equity trading at Wedbush Securities, called the market action "a healthy pause" after the surge in recent weeks.
"People are using today to maybe take some profits off the table," he said.


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