US STOCKS-Wall St flat as Draghi acts but signals end to rate cuts

jueves 10 de marzo de 2016 16:47 GYT
 

* ECB cuts key rates, expands asset-buying plan

* Dollar General up after results

* Brent crude oil down more than 2 pct

* Indexes down: Dow 0.19 pct, S&P 0.07 pct, Nasdaq 0.27 pct (Updates to afternoon)

By Laila Kearney

March 10 (Reuters) - The S&P 500 traded flat in a volatile session on Thursday after the European Central Bank reduced interest rates but ECB chief Mario Draghi disappointed investors expecting multiple rate cuts by saying more were unlikely.

Stocks jumped early in the day after the ECB pushed its deposit rate deeper into negative territory and increased its asset-buying program to 80 billion euros a month from 60 billion euros in an effort to boost growth in the region.

"The world was really, really happy with this mainly because we're all addicted to zero interest rates," said Kim Forrest, research analyst at Fort Pitt Capital Group in Pittsburgh. "It's free money."

When Draghi said future cuts would only happen under extreme circumstances, investors expecting even lower rates switched their strategy to risk off, Forrest said.   Continuación...