Tuesday, June 1, 2010

US stocks decline as Gulf oil spill continues

US stocks

U.S. stocks fell Tuesday after the oil huge BP said that the most shows potential effort, but the cap an oil leak in the Gulf of Mexico had unsuccessful.

Shares of energy companies fell more than any other group, as trading again after a long weekend. BP announced Saturday that the top-kill "procedures heading for towards sealing a cracked well head on the floor of the Gulf of Mexico, had failed.

U.S. Attorney Eric Holder said that the Government was to investigate whether charges should be filed against those responsible for what is estimated to be the largest oil spill in U.S. history.

The expansion disaster overshadowed a better-than-expected figures from the U.S. construction and manufacturing sectors.

The blue chip Dow Jones Industrial Average fell 112.61 points, or 1.11 percent, to 10,024.02.The broader Standard & Poor's 500 index fell 18.7 points, or 1.72 percent, to 1,070.71. The technology-heavy Nasdaq Composite Index fell 34.71 points, or 1.54 percent, to 2,222.33.

The U.S. currency rose against the euro to € 81.73 per cent from € 81.52 cents Friday and climbed against the Japanese currency to 91.01 yen from 90.89 yen.

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