U.S stocks close in red, while Feds keep interest rates unchanged

U.S stocks closed in rU.ed today, in spite of new data issued from the U.S manufacturing sector which came higher than expected, still the stocks dropped more than 2 percent due to rising concerns regarding the impacts of the tsunami that hit Japan.

U.S stocks fell following a huge drop in equities in Tokyo, though Japan made progress in stabilizing nuclear reactors damaged by last week's earthquake and tsunami, as FOMC announcements that was issued today along with interest rate decision contributed in the reduction of U.S losses, while the Feds confirmed that U.S economy is still improving within a stronger yet moderate pace.

The Dow Jones Industrial Average index shed 137.74 points or 1.15% to close at 11855.42 levels, the index reached the highest point at 11988.69 and the lowest point at 11696.25, By closing 1 shares inclined while 29 shares declined.

The Standard & Poor’s 500 Index lost 14.52 points or 1.12% to close at 1281.87 levels, the index reached the highest point at 1288.46 and the lowest point at 1261.12, By closing 66 shares inclined while 431 shares declined and 3 shares remained unchanged.

The NASDAQ Composite Index declined 33.64 points or 1.25% to close at 2667.33 levels, the index reached the highest point at 2680.57 and the lowest point at 2618.50, By closing 634 shares inclined while 1864 shares declined and 165 shares remained unchanged.

Meanwhile, Alcoa and Anadarko Petroleum fell 0.5 percent and 1.7 percent respectively, following a drop in Basic Materials Prices which affected the companies' stocks. General Electric Co. slipped 1.56 percent after talks to sell reactors to India.

Exxon Mobil Corp, the biggest U.S oil producer, fell 1.20 percent following low crude oil prices as Japan's earthquake affected the global speculations regarding the worldwide growth, the thing that decreased demand levels on crude oil, while Intel slipped 3.17 percent after Nomura Holdings reduced recommendations of the company's stocks.

Yahoo! Co declined nearly 5.66 percent following the impact of the crisis in Japan, which might effect the company's branch over there, noting that company's shares dropped lowest since eight months ago, while Motorola Mobility Holdings fell about 4.98 percent, amid news that the salaries of CEO who oversaw the issue of company's departure of Motorola Solutions Co this year have risen.   

ConocoPhillips slipped by 1.13 percent, Texas Instruments Inc fell 1.91 percent, the second largest U.S chipmaker, following news of massive damage of its plants in Japan, the thing that will negatively reflect its sales in first and second quarter.

Furthermore, Aflac Co fell 5.58 percent, following news of Tsunami's impact on its investments in Japan, Hartford Financial Services Group also fell 4.55 following the same news.     

On the other hand, Netflix jumped nearly 7.91 percent after the positive recommendations which was issued by Goldman Sachs regarding the company's stocks, First Solar rose 8.17 percent after the company expects to build new renewable energy plants all around U.S, Europe and China during the upcoming decade, focused on wind and solar energy, while Ryder System inclined 1.33 percent after Jefferies raised its recommendations for the company's stocks. Chevron Corp, the second largest U.S energy company, inclined 0.3 percent.

The Dollar index which measures the USD's performance versus six major currencies fell from today's opening level of 76.68 to currently trade at 76.34 recording its highest level at 77.04 and its lowest at 76.27. Gold prices dropped sharply reaching $1395.49 per ounce from the opening price of $1426.02 while Oil fell reaching $97.55 after opening at $101.38 per barrel.