Wednesday, 15 March 2017

Energy shares weigh on Wall Street as oil falls further

US stocks fell on Tuesday as oil prices dropped to their lowest since November and airlines pulled industrial stocks lower. Health sector shares were volatile as traders digested a nonpartisan research report that showed 14 million Americans would lose medical insurance by next year under the Republican plan to dismantle the Obamacare healthcare reform.

Trading volumes were light ahead of a Federal Reserve statement due Wednesday in which the US central bank is expected to raise rates by 25 basis points.

Airline stocks slipped as a blizzard swept through the heavily populated northeastern United States, grounding thousands of flights. United Continental fell 4.7 percent to USD 66.55 while Southwest Airlines dropped 3.1 percent and American Airlines lost 2.8 percent.

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