Page 25 - ARUBA TODAY

BUSINESS Wednesday 9 May 2018
A25

Stock in-

By ALEX VEIGA
AP Business Writer
U.S. stocks veered lower
in afternoon trading Tues-
day after President Donald
Trump announced the Unit-
ed States' withdrawal from
a landmark nuclear deal
with Iran. Crude oil prices,
which fell sharply ahead of
the afternoon announce-
ment, pared some of their
early losses. Gains in banks
and industrial companies
were outweighed by losses
in health care and con-
sumer goods stocks.
KEEPING SCORE: The S&P
500 index fell 14 points, or
0.6 percent, to 2,657 as
of 2:45 p.m. Eastern Time.
The Dow Jones industrial
average lost 131 points, or
0.5 percent, to 24,225. The
Nasdaq slid 34 points, or
0.5 percent, to 7,230. The
Russell 2000 index of small-
er-company stocks rose 3 This April 5, 2018 file photo shows a building's address on Wall Street, in New York. Stocks are opening slightly lower on Wall Street,
points, or 0.2 percent, to Tuesday, May 8, 2018, as the market gives back some of the gains it made the day before.
1,582. Associated Press
IRAN DECISION: President
Donald Trump said Tuesday after the announcement. company wants to make index climbed 1.4 percent. in Singapore and Taiwan,
afternoon that the United Benchmark U.S. crude oil a new offer for the enter- South Korea's Kospi gave but fell 1.9 percent in In-
States is withdrawing from was down $1.64, or 2.3 per- tainment businesses that up early gains to lose 0.5 donesia after the govern-
the Iran nuclear deal, cent, to $69.09 per barrel in 21st Century Fox agreed to percent. Australia's S&P ment reported economic
which he called "defec- New York. Uncertainty over sell to Disney. Shares in 21st ASX 200 edged 0.1 percent growth slowed in January-
tive at its core." The move the policy helped lift the Century Fox rose 0.3 per- higher. Shares rose higher March.q
reinstalls sanctions on the price of crude on Monday cent to $38.16. Disney slid
Iranian regime. The 2015 above $70 a barrel for the 1.1 percent to $101.31.
agreement required Iran to first time since November BOND YIELDS: Bond prices
curb its nuclear enrichment 2014. fell. The yield on the 10-
program in exchange for On Tuesday, Brent crude, year Treasury rose to 2.97
relief from international which is used to price inter- percent from 2.95 percent
sanctions. national oils, lost $1.29, or late Monday. The rise in
Several companies, includ- 1.7 percent, to $74.88 per yields pushed up interest
ing Airbus, Boeing and To- barrel in London. rates, which allows banks
tal, have struck business The slide in oil futures to make more money from
deals in Iran and could be weighed on some energy loans. That helped drive fi-
looking for exemptions if stocks. Helmerich & Payne nancial sector stocks high-
U.S. sanctions are imposed lost 1.7 percent to $67.50. er. Capital One Financial
again. Boeing shares fell 0.7 DOUBLE DOSE: Shire rose rose 1.8 percent to $90.55.
percent to $338.12, while 4.6 percent to $40.35 after CURRENCIES: The dollar
Total dipped 0.9 percent to the Ireland-based pharma- rose to 109.06 yen from
$61.45. ceutical company agreed 109.06 yen on Monday. The
THE QUOTE: "At least for to be acquired by Japa- euro fell to $1.1872 from
the moment the move- nese drugmaker Takeda in $1.1923.
ment in oil is moderate and a deal worth $62.4 billion. METALS: Gold dipped
seems to be more or less Shares in Takeda slipped 40 cents to $1,313.70 an
what the market was ex- 0.9 percent to $20.82. ounce. Silver dropped 2
pecting," said Phil Guarco, RIVALS NO MORE: Xcer- cents to $16.47 an ounce.
global investment special- ra gained 1.9 percent to Copper lost 2 cents to $3.06
ist, J.P. Morgan Private $13.09 after the semicon- a pound.
Bank. "While this is big news, ductor equipment test- MARKETS OVERSEAS: In
it is not something that the ing company accepted a Europe, Germany's DAX
market hadn't already cash and stock offer val- dropped 0.3 percent while
priced in. Now we have ued at $764.4 million from the CAC 40 in France lost
to see what the reactions competitor Cohu. Shares 0.2 percent. Britain's FTSE
are." in Cohu tumbled 10.8 per- 100 was flat. Major indexes
ENERGY: Oil prices fluctuat- cent to $20.82. in Asia finished mixed. Ja-
ed while Trump spoke, but FOX CATCHER: Comcast fell pan's Nikkei 225 stock index
trimmed some of their loss- 4.9 percent to $30.79 after added 0.2 percent and
es from earlier in the day Reuters reported that the Hong Kong's Hang Seng