Financial sector pressed the US markets
U.S. markets started the day with the reduction, led by financial companies after by announce of the IMF that the end of the credit crisis is still far.
Citigroup and Bank of America leaded the companies in the banking sector in the fall in prices of the shares, and Verizon Communications, the second largest telephone operator in the United States began the session with a four-month decline to a minimum, after taking into account greater than expected reduction in the fixed-line subscriptions in the country.
Also the Tyson Foods, which is the second largest producer of chicken reported a fall in market capitalisation after it reported a reduction in profits by 92% in the first half of the year because of high prices of maize.
Nearly half the companies listed in Standard & Poor's 500 recorded in its forecasts for the third quarter expectations for a drop in profits, which reflects the price of their shares.
Fall in the market was limited by Kraft Foods, once the second largest producer of food in the world announced earnings for the second quarter, higher than expected by market analysts.
Labels: Financial News
posted by Zoritza Petrova @ 9:51 PM
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