US shares swung lower yesterday as investors locked in profits after three days of gains
US shares swung lower yesterday as investors locked in profits after three days of gains, with a spike in crude oil prices hurting Wall Street sentiment.
The Dow Jones Industrial Average slumped 73.24 points to close at 12,103.30, retreating from its record closing high of 12,176.54 on Wednesday.
The technology-heavy Nasdaq Composite Index fell 8.93 points to 2,376.01 and the broad-market Standard and Poor's 500 Index shed 7.39 points to 1,378.33.
Falling crude oil prices helped the US trade deficit retreat from record highs to US$64.3 billion in September. But the consumer sentiment index of the University of Michigan came in lower than expected at 92.3 points.