A WORLD Bank global economic forecast’s concerns caused US stocks to fall for a fourth day of trading in a row yesterday.
Copper prices sank, although a late-day rebound in energy shares left the market well off its lows after a volatile session.The S&P energy index ended up 0.1 per cent after falling as much as 2.6 per cent. It rebounded late in the day as oil prices jumped by the most in more than two years . The price of copper, weighed on shares of producers including Freeport McMoRan, after the World Bank cut its economic growth forecasts for this year and next.
Additionally weighing on markets, US retail sales had their biggest drop in 11 months in December.
The Dow Jones fell 186.59 points, or 1.06 per cent, to 17,427.09, the S&P 500 lost 11.76 points, or 0.58 per cent, to 2,011.27 the Nasdaq dropped or 0.48 per cent, to 4,639.32.