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Wall Street dips in dramatic session
Saturday, March 25, 2017 - 01:20
Stocks pared their losses after Republicans pulled their bill to overhaul the healthcare system. As Fred Katayama reports, the Dow extended its losing streak to a seventh day.
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Stocks pared their losses after Republican leaders pulled their healthcare bill late Friday afternoon - a setback to President Donald Trump. Healthcare stocks finished flat, but materials shares dropped. The Dow extended its losing streak to a seventh day. And stocks indexes posted their biggest weekly percentage loss of the year. Intrepid Capital president Mark Travis: SOUNDBITE: MARK TRAVIS, PRESIDENT, INTREPID CAPITAL, (ENGLISH) SAYING: "We've had very little volatility. You've got a VIX index that's historically low right now. I would argue now is the time to be more cautious than aggressive." GameStop shares tumbling. The retailer issued a weak profit forecast and said it plans to close up to 3 percent of its stores. Twitter shares rose. The microblogging company is considering building a premium version of its Tweetdeck app that helps users navigate Twitter. Charter Communications gained ground. President Trump said the cable company will hire 20,000 workers over four years, close offshore call centers, and move them to the U.S. But the company had previously announced those moves. New orders for durable goods unexpectedly fell in February. But a surge in shipment suggest an acceleration in business investment in the first quarter. In Europe, a drop in energy stocks pulled shares lower. But the German DAX notched a gain.
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Wall Street dips in dramatic session
Saturday, March 25, 2017 - 01:20
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