[Asia Economy New York=Correspondent Baek Jong-min] The major indices of the New York stock market showed a simultaneous decline due to worsening employment data and Walmart's poor earnings.
On the 18th (local time), the Dow Jones Industrial Average fell 119.68 points (0.38%) to close at 31,493.34, the S&P 500 index dropped 17.36 points (0.44%) to 3,913.97, and the Nasdaq index fell 100.14 points (0.72%) to close at 13,865.36.
The U.S. Treasury yields, which have been pressuring the market, fluctuated significantly again today. The U.S. import price index for January, released on the day, rose 1.4% month-over-month, stimulating Treasury yields. The 10-year Treasury yield surged above 1.3% but later fell back to the 1.29% range, which helped reduce the stock market's losses.
Employment data also weighed on the indices. The Department of Labor announced that initial jobless claims last week increased by 13,000 from the previous week to 861,000. This result, far exceeding the market expectation of 773,000, raised doubts about the employment recovery.
Walmart's weaker-than-expected fourth-quarter earnings and negative earnings outlook also affected the overall market. Walmart's stock price plunged 6.5% on the day.
International oil prices, which had surged due to production stoppages in Texas oil fields, fell on news that Saudi Arabia is considering increasing production. On the New York Mercantile Exchange (NYMEX), March delivery West Texas Intermediate (WTI) crude oil closed at $60.52 per barrel, down 1.0% ($0.62) from the previous day. April delivery gold rose 0.1% ($2.20) to $1,775 per ounce.
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