Epic Research Update : US Markets

US stocks dropped on Tuesday after another steep fall in oil prices and a disappointing spending forecast from Exxon Mobil.

Shares of Exxon fell 2.2 percent to USD 74.59 after the oil major reported its smallest quarterly profit in more than a decade, forecast a 25-percent drop in capital spending from 2015 levels and suspended share repurchases.

The Dow Jones industrial average closed down 295.64 points, or 1.8 percent, to 16,153.54, the S&P 500 lost 36.35 points, or 1.87 percent, to 1,903.03 and the Nasdaq Composite dropped 103.42 points, or 2.24 percent, to 4,516.95.

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Posted in: Indian Market Tips