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U.S. stock markets all suffered today following news from both IBM and United Technologies of weakened performance. IBM fell by 5.1% after announcing a 13th consecutive quarterly fall in sales (this quarter saw a profit drop of 17%). United Technologies saw their value fall by 5.4% after it significantly lowered its full-year profit outlook – this followed news yesterday that the company was selling its Sigorsky helicopter business to Lockheed Martin. At the start of trading, the Dow Jones immediately dropped 124 points to 17,976.41.
The S&P 500 slipped 2.09 points to 2,126.19 and the Nasdaq, regarded as the most tech-focused of the markets, dropped 2.96 points to 5, 215.90. With financial analysts from a plethora of differing fields all saying U.S. stock is overvalued, it will be interesting to see the market’s reaction to figures being released later today, after closing, by Apple, Microsoft and Yahoo.
If you believe there will be a drastic re-working of market prices downwards sooner rather than later, please Like & Share this post.
