Tech, bank stocks dip after rally the day be­fore

Star-Telegram - - Business - BY MAR­LEY JAY

U.S. stocks fin­ished lower Thurs­day after an af­ter­noon rally faded away. Banks and tech­nol­ogy com­pa­nies fell after the mar­ket pulled off a huge rally the day be­fore.

Deutsche Bank dropped after Ger­man au­thor­i­ties raided its of­fices on sus­pi­cion some of its em­ploy­ees helped clients laun­der money. Fi­nan­cial stocks fell as in­ter­est rates again edged lower. Crude oil prices climbed after they briefly dipped un­der $50 a bar­rel overnight. The re­bound helped en­ergy stocks trade higher. Health care com­pa­nies, which have climbed over the last month, con­tin­ued to do bet­ter than the rest of the mar­ket.

The Fed­eral Re­serve re­leased min­utes from its meet­ing in early No­vem­ber. Of­fi­cials ex­pressed con­cerns about a va­ri­ety of threats to the econ­omy, in­clud­ing the im­pact of tar­iffs, a slow­ing global econ­omy and tight­en­ing fi­nan­cial con­di­tions amid fall­ing stock prices. The as­sess­ment was in line with com­ments Wed­nes­day from Fed­eral Re­serve Chair­man Jerome Pow­ell.

Bench­mark U.S. crude rose 2.3 per­cent to fin­ish at $51.45 a bar­rel in New York. Brent crude edged up 1.3 per­cent to $59.51 a bar­rel in Lon­don.

Gold was lit­tle changed at $1,230.40 an ounce. Sil­ver slipped 0.4 per­cent to $14.40 an ounce. Cop­per lost 0.9 per­cent to $2.79 a pound.

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