U.S. indexes ended the week negatively
Submitted by Henry Aaron on Sat, 05/24/2008 - 15:46.
Wall Street finished the week with big losses with new auctions on Friday, as the higher prices of oil again put on the agenda concerns related to the economy. Dow Jones industrial index fell by almost 150 points before the three public holidays in the United States.
Investors fear that consumers, responsible for over two-thirds of the American economy will reduce their costs because of the expensive fuel.
Oil futures added 1.38 dollars to the closing price of 132.19 dollars a barrel. The raw material reported the third week of increases, and on Thursday, hit a new record level of 135.09 dollars.
Ultimately, Dow Jones decreased by 145.99 points, or by 1.16% to 12 479.63 points.
The wider indices also reported losses. Standard & Poor's 500 fell by 1.32% to 1 375.93 points, and the NASDAQ decreased by 0.81% to 2 444.67 points.
For the entire week Dow Jones lost 3.91%, S & P 500 - 3.47% and the NASDAQ fell by 3.33 percent.
At the same time in Tokyo Nikkei closed with an increase of 0.24%, while in London FTSE decreased by 1.53%. German DAX reported a fall of 1.79% and the Paris CAC 40 came down by 1.89 percent.
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