U.S. stocks dropped Thursday after disappointing earnings of Disney as well as a plunge in shares of regional banks and the threat of a U.S. debt default.<\/p>\n\n\n\n
Concerns of bank failure popped up again partially because of debt ceiling potential risk as well as liquidity issues regional banks recently show.<\/p>\n\n\n\n
Disney shares were down more than 9% in Thursday session \u2013 which makes the entertainment giant the worst-performing stock on the Dow \u2013 after The company announced 4 m subscribers loss in the first quarter. The decline is probably due to hiking prices for its streaming service, Disney+.<\/p>\n\n\n\n
Risk aversion also played an important role in deepening the losses in Wall Street after PacWest Bancorp plunged 20% after it reported a drop in deposits last week and pledged an additional $5.1 billion of its loans to the central bank.<\/p>\n\n\n\n
US major indexes plunged, with only Nasdaq on its track to weekly gains. Dow lost 230 points with 0.2% losses for S&P500.<\/p>\n\n\n\n
Investors received an update on wholesale prices in the form of the producer prices index after one day of Wednesday’s report on U.S. consumer-prices reading. The index’s headline number showed wholesale prices grew by just 0.2% last month, lower than the 0.3% increase economists polled by The Wall Street Journal had expected.<\/p>\n","protected":false},"excerpt":{"rendered":"
U.S. stocks dropped Thursday after disappointing earnings of Disney as well as a plunge in shares of regional banks and the threat of a U.S. debt default. Concerns of bank failure popped up again partially because of debt ceiling potential risk as well as liquidity issues regional banks recently show. Disney shares were down more …<\/p>\n","protected":false},"author":13,"featured_media":31849,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[39,36],"tags":[6877,7113,6874,6862],"class_list":["post-83981","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-global-stock-markets","category-market-updates","tag-dollar","tag-earnings","tag-gold","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/83981","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=83981"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/83981\/revisions"}],"predecessor-version":[{"id":83986,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/83981\/revisions\/83986"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/31849"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=83981"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=83981"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=83981"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}