Cisco Fall Pulls Wall Street Down

Windsor Genova – AHN News News Writer

New York, NY, United States (AHN) – U.S. stocks plunged on Thursday as shares of networking giant Cisco Systems tumbled following its announcement the previous day of lower than expected growth for the year.

A 16 percent drop in Cisco shares saw the Dow Jones Industrial Average losing 93 points or 0.8 percent and closing at 11,264. Dell, Microsoft and Oracle were also among the losers during the session.

The Standard & Poor’s 500 Index lost 8 points or 0.7 percent to end at 1,210. The Nasdaq Composite Index fell 29 points or 1.1 percent to 2,549.

Oil for December delivery rose 2 cents to $87.83 per barrel.

Gold futures for December delivery gained $5.50 to end at $1,405 per ounce.

 

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