Go Finance Reporting in NEW YORK - The stock market is the United States (U.S.) re-emerged weakened by fears of earnings growth of issuers in the coming quarter.
Corrected observed energy-based stock affected due to falling oil prices. S & P energy index fell by 2.4 percent, in which oil prices in the futures market dropped more than two percent.
While the Nasdaq index was pressured by losses Sears Holding Corp., listed issuers, said first-quarter loss. Cognizant Technology Solutions Corp. also declined due to investors' stock prices would slow down its growth estimates.
"There is little market fears of overheating, and some market participants who used the opportunity to take advantage," said co-chief investment Oakbrook Investments Peter Jankovskis as quoted by Reuters in Lisle, Illinois.
S & P 500 Index also fell back for a second day after earlier reaching its highest level in almost three years last weekend.
At the close of trading on Tuesday (05/03/2011) local time, the Dow Jones Industrial edged up 0.15 points, or 0.00 percent, to 12807.51. Standard & Poor's 500 index dropped 4.60 points, or 0.34 percent to 1356.62. And the Nasdaq Composite Index fell 22.46 points, or 0.78 percent, to 2841.62. (GoFinance)
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