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U.S. markets soft on drop in durable goods
WASHINGTON, (UPI) -- U.S. stocks fell Thursday with durable goods orders 1.1 percent lower in May compared to April, dragged down by slow transportation orders.
Excluding big-ticket transportation items, durable goods orders rose 0.9 percent in the month, the Department of Commerce said.
In early afternoon trading, the Dow Jones industrial average lost 98.55 points or 0.96 percent to 10,199.89. The Standard & Poor's 500 index lost 13.27 or 1.22 percent to 1,078.77. The Nasdaq composite index lost 27.20 or 1.21 percent to 2,227.03.
The benchmark 10-year U.S. Treasury note rose 7/32 to yield 3.09 percent.
The euro rose to $1.2364 from Wednesday's $1.231. Against the yen, the dollar fell to 89.255 yen from Wednesday's 89.88 yen.
In Tokyo, the Nikkei 225 index rose 0.05 percent, 4.64, to 9,928.34.
In London, the FTSE 100 index lost 1.51 percent, 78.29, to 5,100.23.
WASHINGTON, (UPI) -- U.S. stocks fell Thursday with durable goods orders 1.1 percent lower in May compared to April, dragged down by slow transportation orders.
Excluding big-ticket transportation items, durable goods orders rose 0.9 percent in the month, the Department of Commerce said.
In early afternoon trading, the Dow Jones industrial average lost 98.55 points or 0.96 percent to 10,199.89. The Standard & Poor's 500 index lost 13.27 or 1.22 percent to 1,078.77. The Nasdaq composite index lost 27.20 or 1.21 percent to 2,227.03.
The benchmark 10-year U.S. Treasury note rose 7/32 to yield 3.09 percent.
The euro rose to $1.2364 from Wednesday's $1.231. Against the yen, the dollar fell to 89.255 yen from Wednesday's 89.88 yen.
In Tokyo, the Nikkei 225 index rose 0.05 percent, 4.64, to 9,928.34.
In London, the FTSE 100 index lost 1.51 percent, 78.29, to 5,100.23.
