Thursday, 22 June 2017

S&P, Dow hurt by energy, banks; biotech boosts Nasdaq

The S&P 500 and Dow stock indexes were weighed down by falling energy shares as oil prices fell on Wednesday and added to investor concerns about low inflation, while healthcare and technology stocks helped lift the Nasdaq Composite index. Energy was the weakest S&P sector with a 1.6 percent decline after oil prices reversed course during the morning session and US crude touched its lowest point since August despite larger-than-expected declines in inventories. Continued weakness in oil futures added to investor worries about inflation and as a result hurt cyclicals such as banks and industrials.

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