US STOCKS-Wall St extends selloff on global economy worry

martes 6 de enero de 2015 12:31 GYT
 

* Services sector expands at slowest rate since Feb -Markit

* ISM services short of expectations

* Factory orders fall for fourth straight month

* Indexes off: Dow 0.36 pct, S&P 0.32 pct, Nasdaq 0.61 pct (Updates to market open, adds data, changes byline)

By Chuck Mikolajczak

NEW YORK, Jan 6 (Reuters) - U.S. stocks fell on Tuesday in choppy trading, extending losses a day after Wall Street suffered its biggest drop since early October as data showed the pace of growth in the U.S. economy had slowed.

After unexpectedly strong third-quarter economic growth, data on Tuesday pointed to slowing growth in the fourth quarter as the pace of expansion in services moderated, while new orders for manufactured goods fell for a fourth consecutive month.

In addition to the softer data, the major headwinds for equities recently remain unresolved as crude oil prices continue to fall. An election in Greece which may trigger its exit from the euro zone is some three weeks ahead, increasing the difficulty for the European Central Bank to move towards quantitative easing as it attempts to stabilize the region's economy.

"You can't blame the whole thing on oil, certainly they jump on that wagon, too, when there is a negative tone and a negative sentiment," said Ken Polcari, Director of the NYSE floor division at O'Neil Securities in New York.   Continuación...