Wall St. slides as Saudi Arabia, Italy add to economic concerns


(Worthy News) – U.S. stocks fell more than 1 percent on Thursday as the European Commission issued a warning regarding Italy’s budget and concerns mounted over the possibility of strained relations between the United States and Saudi Arabia, further denting investors’ appetite for risk amid global trade tensions and rising interest rates.

The benchmark S&P 500 index closed just above its 200-day moving average, a key indicator of long-term price trends.

S&P 500 technology and consumer discretionary stocks fell more than 2 percent, as did the tech-heavy Nasdaq. Among the S&P’s major sectors, only utilities and real estate, considered defensive, avoided losses. [ Source: Reuters (Read More…) ]

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