US stocks were under pressure on Thursday, with the Dow Jones Industrial Average skidding to its eighth straight loss in a row.
Energy, industrials and tech sectors were some of the biggest decliners on the benchmark S&P 500, which ended the day down 0.64 per cent to 2,749.76
Among the most notable decliners were Amazon — which, along with other ecommerce companies, felt the heat from a US Supreme Court ruling opening the door for states to collect sales tax on online sales — and Intel, whose chief executive resigned over a consensual affair with an employee. Amazon shares ended the day down more than 1 per cent, while Intel dropped 2.38 per cent.
The Dow Jones Industrial Average ended the day down 0.8 per cent to 24,461.46, marking its eighth straight day in the red, its longest losing streak since March 2017. The Nasdaq Composite was off 0.88 per cent to 7,712.95, having closed at a record on Wednesday.
The dollar was softer, with the dollar index — measuring the buck against a basket of peers — losing 0.29 per cent to 94.788. US Treasury yields took a leg lower, with the 10-year note dropping almost 3 basis points to 2.89 per cent and the 2-year declining 1.7 per cent to 2.5452 per cent.
Brent crude, the international benchmark, slid more than 2 per cent to $73.09 a barrel, as major producers gathered in Vienna to discuss production targets. Early signs pointed to a potentially tough road ahead for a possible agreement, with Iran’s oil minister saying talks with Saudi Arabia and Russia were not going well.
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