US stocks down on profit-taking

An all-time record US trade deficit and a surprising drop in consumer confidence sparked profit-taking on Wall Street today, sending stocks lower despite the week’s bullish economic news from the Federal Reserve.

US stocks down on profit-taking

An all-time record US trade deficit and a surprising drop in consumer confidence sparked profit-taking on Wall Street today, sending stocks lower despite the week’s bullish economic news from the Federal Reserve.

The selloff was prompted by an unexpected 10-point dive in the University of Michigan’s mid-February consumer sentiment index. Economists had forecast a slight rise.

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