U.S. markets slide on weak durable goods

October 28, 2009 - 0 comments

New York-- U.S. markets lost ground Wednesday after the Commerce Department said durable goods orders rose 1 percent in September, which was less than expected.

Economists had predicted a rise of 1.5 percent.

Home sale figures also dampened investments, dropping 3.6 percent in September after falling flat in August, Commerce said.

In early afternoon trading, the Dow Jones industrial average lost 0.45 percent, 44.06 points, to 9,838.11. The Standard & Poor's 500 index shed 1.05 percent, 11.14 points, to 1,052.51. The Nasdaq composite index slipped 1.63 percent, 34.58 points, to 2,081.51.

The benchmark 10-year U.S. Treasury rose 11/32 to yield 3.411 percent.
The euro fell to $1.4737 from Tuesday's $1.4793. Against the yen, the dollar fell to 90.59 yen from Tuesday's 91.89 yen.

In Japan, the Nikkei 225 index lost 1.35 percent, 137.41, to 10,075.05.
In Britain, the FTSE 100 index lost 2.32 percent, 120.55, to 5,080.42.