Major US stock indexes finished trading in negative territory

Major US stock indexes fell significantly, which was caused by the fall of shares of financial companies, as investors began to doubt how quickly the Trump administration could implement the growth policy.

Investors also analyzed the report from the Bureau of Economic Analysis. It reported that the current account deficit in the fourth quarter of 2016 fell to $ 112.4 billion from $ 116.0 billion in the third quarter. The deficit fell to 2.4 percent of GDP in dollar terms from 2.5 percent in the third quarter. The reduction in the current account deficit by $ 3.6 billion mainly reflected a surplus increase in primary revenues by $ 19.9 billion, which was largely offset by an increase in the commodity deficit by $ 17.5 billion. Changes in the surplus in services and The deficit for secondary incomes was relatively small.

The cost of oil moderately declined, reaching a weekly low, as the market was not impressed by reports that OPEC could extend oil production reduction agreements. Sources in the OPEC signaled that its members are increasingly advocating for an extension of the agreement to reduce production, but they want support from non-OPEC oil producers such as Russia, which has yet to fully meet the terms of the current arrangement.

The components of the DOW index mostly decreased (26 out of 30). More shares fell The Goldman Sachs Group, Inc. (GS, -3.79%). The leader of growth was the shares of The Coca-Cola Company (KO, + 0.84%).

Almost all sectors of the S & P index recorded a fall. The financial sector fell most (-2.0%). The leader of growth was the utilities sector (+ 1.0%).

At closing:

Dow -1.12% 20,670.67 -235.19

Nasdaq -1.80% 5,795.14 -106.39

S & P -1.24% 2,344.07 -29.46