US STOCKS-Wall St extends losses in broad selloff

lunes 8 de febrero de 2016 16:11 GYT
 

* U.S. banks follow European peers lower

* Cognizant falls after weak forecast

* Indexes down: Dow 2.3 pct, S&P 2.6 pct, Nasdaq 3.3 pct (Updates to late afternoon)

By Caroline Valetkevitch

Feb 8 (Reuters) - U.S. stocks added to losses in late Monday trading in a broad selloff that drove financial, tech, consumer and materials indexes down more than 3 percent amid persistent fears of a global slowdown.

The Nasdaq led losses for a second straight session, weighed down by Facebook, Amazon and other stocks that had lent strength to the market last year.

"When you see selling this broad and nondiscriminant, when everything is being sold, it tends to end when it just exhausts everyone who's worried," said Rick Meckler, president of LibertyView Capital Management in Jersey City, New Jersey.

Financial shares sank on worries over the U.S. economy and uncertainty whether the U.S. Federal Reserve will raise rates this year. The S&P financial index was down 3.5 percent and is off about 15 percent for the year, the worst-performing of the 10 major S&P sectors.

The losses followed a similar drop in European bank shares.   Continuación...