US STOCKS-Wall St falls as ECB's Draghi signals end to rate cuts

jueves 10 de marzo de 2016 14:03 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 0.63 pct, S&P 0.54 pct, Nasdaq 0.67 pct (Updates to early afternoon)

By Abhiram Nandakumar

March 10 (Reuters) - Wall Street reversed course and slipped sharply into the red in volatile trading on Thursday after European Central Bank President Mario Draghi signaled an end to further rate cuts.

Stocks had jumped earlier in the day after the ECB pushed 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.

"This is a classic case of 'buy the rumor and sell the news'," said Adam Sarhan, chief executive of Sarhan Capital in New York.

"Over the last few weeks, stocks had soared in anticipation of more easy money, and now that we've got the news, stocks are selling off," Sarhan said.   Continuación...