Forex Pros - U.S. stocks made sharp losses after opening Thursday, with the decline in shares in a company (Cisco) technological giant, resulting in lower markets, as investors awaited the outcome of the World Economic Summit Group of Twenty, which will continue for two days.
During the early U.S. trading, the Dow Jones industrial average by 0.95%, and Standard & Poor's 500 rose 0.96%, while the Nasdaq Composite Index fell 1.51%.
In the News profits, shares in the largest company in the world of computer networking equipment (Cisco Systems) by a whopping 16.19% after it cut its forecast for full-year profit, despite record profits in the first quarter amounted to 1.93 billion dollars, up from 1.79 billion for the same period last year.
The company said it now expects to increase revenue for the full year increased by 3-5% from the previous year, and so much less than analysts had expected a rise of 13%, because of "challenging economic environment," as well as the decline "in parts of the public sector, and service provider Alatba of the company, and the work of the European company. "
In other places within the sector, stocks tumbled (Broadcom) by 3.58%, whereas the shares (Texas Instruments) fell to 2.87% by.
In the meantime, the performance of shares in the financial sector sub-standard, and led the lenders declines. Shares tumbled by the global financial services provider (JPMorgan Chase) increased by 1.62%, Shares in rival (Bank of America) by 1.27%, while shares fell (Citigroup) increased by 1.01%.
During the early U.S. trading, the Dow Jones industrial average by 0.95%, and Standard & Poor's 500 rose 0.96%, while the Nasdaq Composite Index fell 1.51%.
In the News profits, shares in the largest company in the world of computer networking equipment (Cisco Systems) by a whopping 16.19% after it cut its forecast for full-year profit, despite record profits in the first quarter amounted to 1.93 billion dollars, up from 1.79 billion for the same period last year.
The company said it now expects to increase revenue for the full year increased by 3-5% from the previous year, and so much less than analysts had expected a rise of 13%, because of "challenging economic environment," as well as the decline "in parts of the public sector, and service provider Alatba of the company, and the work of the European company. "
In other places within the sector, stocks tumbled (Broadcom) by 3.58%, whereas the shares (Texas Instruments) fell to 2.87% by.
In the meantime, the performance of shares in the financial sector sub-standard, and led the lenders declines. Shares tumbled by the global financial services provider (JPMorgan Chase) increased by 1.62%, Shares in rival (Bank of America) by 1.27%, while shares fell (Citigroup) increased by 1.01%.
Also fell by the largest producer of aluminum in the U.S. (Alcoa) increased by 0.79% after ratings downgrades to a "market perform."
At the same time, and across the Atlantic, European stock markets were heading down. Dropped EURO STOXX 50 index rose 0.82%, and France's CAC 40 rose 0.92 percent, Germany's DAX index rose 0.10%, the FTSE 100 rose 0.27%.
The leaders of the Group began the twenty-day global economic economic summit that will continue for two days amid growing concerns about trade imbalances and currency controls.
It is expected that the market expects the results of the summit with interest from investors after the Federal Reserve Bank's decision last week to buy its own debt to keep borrowing costs close to zero, which led to criticism from leaders of the Group of Twenty, including Germany and China.
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