Stocks Closed Sharply Lower, Pressured by Greece Worries
- Thursday, June 4, 2015, 16:50
- Stock Market
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U.S. stocks finished with sizable losses on Thursday weighed down in part by an impasse between Greece and its creditors and U.S. economic reports that helped make an interest-rate hike this year look more likely. The Dow Jones industrial average slid 170.69 points, or 0.94%, to 17,905.58. The S&P lost 18.23 points, or 0.86%, to 2,095.84. The Nasdaq composite lost 40.11 points, or 0.79%, to 5,059.12.
Greece has notified the International Monetary Fund it plans to bundle its loan repayments falling due this month into one payment of around $1.7 billion, according to the IMF and Greek officials.
Fewer Americans sought unemployment benefits last week. The Labor Department says applications for unemployment aid dropped 8,000 to a seasonally adjusted 276,000. The four-week average, a less volatile figure, ticked up 2,750 to 274,750.
U.S. productivity in the first quarter fell by a revised 3.1% annual pace instead of 1.9%, fresh government figures show.
PepsiCo is looking to launch a line of “craft” fountain sodas made with sugar in hopes of appealing to people who may shun big soda brands.
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