U.S. stocks declined,
after equities posted their best monthly gain since February, as
commodities producers sank and Apple Inc. fell into a correction.
The Standard &
Poor 500 Index retreated 0.3 percent to 2,097.97 at 4 p.m. in New York,
after falling as much as 0.8 percent, to close above its average price
during the past 100 days.
Commodities dropped
after an official gauge of Chinese manufacturing slid to a five-month
low and Iran said it will be able to bolster crude production within a
week of sanctions ending.
The slide in equities
accelerated Monday after the S&P 500 fell below its average price
for the past 100 days, a level commonly watched by market technicians.
The gauge last dropped below the 100-day moving average on July 24
during its longest losing streak since January. The S&P 500 is about
1.3 percent above its 200-day average, a level that has stopped the
last two declines of more than 2.8 percent.
Apple fell for the
ninth time in 10 days, sliding below its average price for the past 200
days for the first time since 2013 and extending its slide from a
February high past 10 percent.
Source : Bloomberg
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