Stocks wavered today following word from the European Central Bank that the ECB will take a number of steps to try and strengthen Europe’s economy. Chief among them: Cutting its main interest rates and expanding its massive bond-buying program.
ECB president Mario Draghi said-
“The outlook for economic growth in the euro zone had been revised slightly down — mainly reflecting the weakened outlook for the world economy — but added that he did not anticipate needing to reduce rates further.”
The euro zone’s 19 countries are now seen posting average growth of 1.4 percent in 2016, rather than the 1.7 percent forecast in December. More on the ECB’s decision today from CNBC’s Bob Pisani below.
What are the biggest things to take away from today’s moves by the European Central Bank? Check out marketwatch.com.
Here are the final numbers from Thursday, 3/10/16 on Wall Street
Dow Jones Industrial Average: 16,995.13 (-5.23 / -0.03 %)
NASDAQ: 4,662.13 (-12.22 / -0.26 %)
S&P 500: 1,989.57 (+0.31 / +0.02 %)