While you were sleeping: US durable goods orders drop

Wed, 25 Mar 2015

By Margreet Dietz March 26 (BusinessDesk) - Stocks on Wall Street and in Europe slid after an unexpected drop in US durable goods orders bolstered concern about the strong greenback and its impact on corporate earnings. A Commerce Department report showed orders for US durable goods unexpectedly fell in February, dropping 1.4 percent. January’s increase was revised lower to 2 percent. “Today’s report provides strong evidence that the manufacturing sector is feeling some considerable heat from the stronger dollar," Anthony Karydakis, c...

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