The Dow Jones Industrial Average on Thursday decreased 196.10 points or 0.80 per cent to 24 461.70. The S&P 500 was down 17.56 points or 0.63 per cent to 2 749.76. The Nasdaq Composite Index dropped 68.56 points or 0.88 per cent to 7 712.95 Xinhua reported.
The Dow s losses were mainly led by the decline of Caterpillar and Intel. Shares of Caterpillar and Intel sank 2.52 per cent and 2.38 per cent respectively at market closing. The Dow extended losing streak to eight days its longest since March 2017.
More than half of the 11 primary S&P 500 sectors struggled during the day s trading with energy and industrial sectors lagging most. The Nasdaq Composite also fell erasing earlier gains.
On the economic front the Philadelphia Fed s manufacturing index decreased about 15 points to a reading of 19.9 in June from 34.4 in May lower than market estimates of 28 according to its latest report.
Meanwhile in the week ending June 16 the initial jobless claims was 218 000 lower than the market forecast of 220 000. The reading showed a decrease of 3 000 from the previous week s revised level the US Labor Department reported on Thursday.
--IANS pgh/
