Wednesday, 7 October 2015

Wall Street dips as third-quarter earnings season kicks off

US stocks fell on Tuesday, ending a five-day winning streak, as investors focused on upcoming quarterly reports that are expected to reflect a dip in corporate earnings.
 A surge in DuPont's stock helped keep the Dow Jones industrial average in positive territory but the S&P 500 and Nasdaq lost ground, with a sharp drop in biotech stocks.
 The S&P health index lost 2.33 percent, the worst performer among the ten major S&P sectors. The sector has been under intense scrutiny over high drug prices. 
The Nasdaq biotechnology index ended down 3.77 percent, recovering from deeper losses of around 6.6 percent.

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