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27 Mar 2014
US stocks extended declines on Thursday
FXStreet (San Francisco) - Wall Street closed lower on Thursday as investors digested a set of mixed economic data, including US GDP that posted a revision of 2.6% in the Q4 2013 from previously estimated of 2.4%; however it wasn't enough for a hungry market that expected a revision to 2.7%.
In addition, investors are in profit taking mode ahead of the finish of the Q1 as they are going out of bull market biggest winners such as banks and technology companies.
The Dow Jones eased 4.76 points or 0.03% to finish at 16,264.23; the S&P 500 declined 3.52 points or 0.19% to close the day at 1,849.04; while the Nasdaq lost 22.35 pts or 0.54% to 4,151.23.
In addition, investors are in profit taking mode ahead of the finish of the Q1 as they are going out of bull market biggest winners such as banks and technology companies.
The Dow Jones eased 4.76 points or 0.03% to finish at 16,264.23; the S&P 500 declined 3.52 points or 0.19% to close the day at 1,849.04; while the Nasdaq lost 22.35 pts or 0.54% to 4,151.23.