US equities finished off their worst levels after paring losses seen earlier in the session, weighed on by negative sentiment from Asia following the latest IMF & OECD growth forecasts. The IMF cut its forecast for China’s growth forecast to 7.75% from 8%. Elsewhere, OECD cut its 2013 World GDP growth forecast to 3.1% from 3.4%. Price action lacked direction with a lack of Tier-1 data. Finally, the DJIA finished down 0.69% at 15302.80, the S&P 500 finished down 0.70% at 1648.36 and the NASDAQ 100 finished down 0.57% at 2994.82.
29 May 2013 - 22:12 - - Source: RANsquawk
RANsquawk provides audio news and commentary for over 15,000 professional traders and brokers worldwide. Services include: