Thu 23 Aug 2012 11:24:00 CT
After a positive start in US equity markets this morning, a round of disappointing earnings, weak Chinese and European manufacturing data and comments from a Fed official over more quantitative easing turned markets lower. Ideas that the US Fed, and other Central Bankers, could be close to pursuing easier monetary policy lifted global stock indices during the initial morning hours. Shares of Hewlett-Packard were down more than 6.5% this morning after reporting their largest quarterly loss in history and lowering their full year guidance. There was more disappointment in the retail sector, with weaker than expected results from Big Lots and Guess. Talk that the US Fed might not pursue more quantitative easing at the September meeting seemed to turn sentiment in the market negative, and that in turn pushed the September S&P 500 down to a new six day low.
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