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Overnight Markets: Wall Street down after Fed minutes
by Himanshu Singh on Aug 22, 2013 at 04:21
PetSmart Inc. (PETM) dropped 5.3%after the pet-store chain forecast earnings of 83 cents to 87 cents a share in the third quarter.
In the financial sector, Goldman Sachs Group Inc. fell 1.5% after a programming error caused the firm to send unintentional stock options orders in the first minutes of trading, pushing prices on dozens of contracts to a dollar each, sources said.
In Asia, shares declined on Thursday in late morning trade after the Fed minutes showed officials support stimulus cuts this year if the US economy improves.
The MSCI Asia Pacific Index dropped 0.8% to 130 as of 11:32 a.m. in Tokyo. Japan’s Topix rose 0.1%, reversing earlier losses. South Korea’s Kospi index dropped 0.9%, while Australia’s S&P/ASX 200 Index declined 0.7%. New Zealand’s NZX 50 Index lost 0.5%.
Hong Kong’s Hang Seng Index declined 0.5% and China’s Shanghai Composite Index climbed 0.1%. Taiwan’s Taiex dropped 0.8%.
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