Wall Street Sinks on BOJ Fears, Icahn Comments
US stocks closed down on Thursday as the Bank of Japan's shocking call to cap monetary stimulus continued to rattle investors while a late day decline in Apple shares on remarks by billionaire investor Carl Icahn added to selling pressure.
The benchmark S&P 500 had its worst day in three weeks, losing 19.34 points, or 0.92 percent, to 2,075.81, the Dow Jones industrial average fell 210.79 points, or 1.17 percent, to 17,830.76 and the Nasdaq Composite dropped 57.85 points, or 1.19 percent, to 4,805.29.
Nine of the major S&P 500 sectors were lower, with information technology's 1.4 percent fall leading the decliners. Consumer staples rose 0.03 percent.
"This really personifies how important central bank policy is on the market," said Jack Ablin, chief investment officer at BMO Private Bank.
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The benchmark S&P 500 had its worst day in three weeks, losing 19.34 points, or 0.92 percent, to 2,075.81, the Dow Jones industrial average fell 210.79 points, or 1.17 percent, to 17,830.76 and the Nasdaq Composite dropped 57.85 points, or 1.19 percent, to 4,805.29.
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