Tuesday, 9 February 2016

Growth worries, rate hike uncertainty pull Wall Street down

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US stocks dropped on Monday as concern over global growth hit banks and other economically sensitive shares, although a late rally in energy shares left the market well above its lows of the day.

 European banks led a global selloff in financial stocks as signs of stress in the sector mounted. 

Uncertainty over whether the Federal Reserve would raise rates this year also dragged down US bank stocks, pushing the S&P financial index down 2.6 percent.

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