Korean Hostility, U.S. Economic Downgrade Send Stocks Falling

Windsor Genova – AHN News News Writer

New York, NY, United States (AHN) – The exchange of artillery fire between North and South Korea and the Fed’s bleak economic outlook next year sent shivers down the spine of investors and U.S. stocks sliding on Tuesday.

The Dow Jones Industrial Average lost 153 points or 1.5 percent to 11,014 with the energy sector, including Chevron and Exxon Mobil, hit by sliding crude oil futures.

The Nasdaq Composite Index slid 37 points or 1.5 percent to 2,949 while the Standard & Poor’s 500 Index shed 17 points or 1.4 percent to 1,181.

Oil for January delivery declined by 30 cents to $81.44 per barrel.

Gold futures for January delivery rose $22 to close at $1,380 an ounce.

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