US STOCKS-Wall St bleeds as financials, tech stocks sell off

lunes 8 de febrero de 2016 14:42 GYT
 

* U.S. banks follow European peers lower

* Richly valued stocks drop again

* Cognizant falls after weak forecast

* Indexes down: Dow 2.07 pct, S&P 2.08 pct, Nasdaq 2.61 pct (Updates to early afternoon)

By Abhiram Nandakumar

Feb 8 (Reuters) - Wall Street sank sharply on Monday as financial stocks sold off amid worries about interest rates and investors backed off from richly valued tech and consumer stocks amid persistent fears of a global slowdown.

The technology-heavy Nasdaq Composite fell 2.5 percent to its lowest since October 2014, weighed down by Microsoft, Amazon and Facebook, stocks that lent strength to the market last year.

All 10 major S&P sectors were down, with the 3.15 percent fall in financial stocks leading the decliners as they followed European banks lower.

U.S. crude oil prices eased from their session lows, but were still down 2.8 percent, while Brent was off 2 percent. Global stock markets have closely tracked the rise and fall in the price of the oversupplied commodity this year.   Continuación...