Friday, 12 February 2016
Banks drag Wall Street lower as growth fears, rate outlook weigh
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Bank shares dragged Wall Street lower on Thursday on concerns the slowing global economy will continue to pressure interest rates, while energy shares helped pare losses late in the session.
Volume was high as the S&P 500 touched its lowest in two years at its session low but shaved half its loss by the close after the Wall Street Journal reported OPEC was ready to cooperate on crude oil production cuts, citing the UAE energy minister.