U.S. stocks rally runs out of steam

Azerbaijan News.Net
Wednesday 7th January, 2009

The New Year surge on Wall Street petered out on Wednesday.

At the close of trading the Dow Jones Industrials were down 245.40 points or 2.72% at 8,769.70.

The Nasdaq Composite was down 53.32 points or 3.32% at 1,599.06.

The Standard and Poor's 500 was off 28.05 points or 3.00% at 906.65.

Te U.S. dollar was sharply weaker, particularly against the European currencies and the British pound.

In afternoon trading in New York Wednesday the euro had risen to 1.3706. The British pound was sharply higher at 1.5228, while the Swiss franc rose strongly to 1.0934.

The Japanese yen was little changed at 92.68, while the Australian dollar firmed to .7204. The Canadian dollar was changing hands at 1.1844.


USDJPY: 92.68
GBPUSD: 1.5228
USDCHF: 1.0934
AUDUSD: 0.7204
USDCAD: 1.1844

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