US STOCKS-Global demand worries drag Wall St lower

martes 9 de diciembre de 2014 12:30 GYT
 

* Wholesale trade data tops expectations

* Indexes down: Dow 1.07 pct, S&P 0.97 pct, Nasdaq 0.9 pct (Adds data, updates prices)

By Chuck Mikolajczak

NEW YORK, Dec 9 (Reuters) - U.S. stocks were sharply lower on Tuesday as investors shunned risk over concerns about the impact of lower oil prices on the global economy and political turmoil in Greece.

Brent crude rebounded to climb 0.8 percent after it touched a fresh five-year low of $65.29 on Tuesday. Oil prices have been under pressure as the dollar strengthened and OPEC decided against an output cut, with Brent down more than 40 percent from its June high.

"You've seen some real volatility in everything from energy to currencies and it's had a bit of a spillover effect on the market as people try to think about the impact of these moves," said Rick Meckler, president of LibertyView Capital Management in Jersey City, New Jersey.

"To some extent a drop in oil prices, of course, is positive, but there comes a point at which people begin to be concerned whether the drop is too much, too fast, and can there be unintended consequences."

Political unrest in Greece also brought about investor nervousness after the government brought a presidential vote forward in a political gamble that raised uncertainty over the country's transition out of its bailout.

Adding to the cautious tone was uncertainty whether the U.S. Federal Reserve will change its language to keep rates near zero for a "considerable time" when policymakers meet next week in the wake of the strong jobs report on Friday.   Continuación...