Markets: Wall Street falls again as ECB stance softens
Software glitch at Knight Capital hits company shares and causes market confusion.
Failure by the European Central Bank to reassure investors led to a fourth consecutive day of equity market decline, with three major US equity indices closing in the red.
Shares in market-making and trading company Knight Capital Group fell 62.8 per cent after the company reported a $440m (£238m) pre-tax loss resulting from a software malfunction which affected markets on Wednesday (2 August).
Mixed-to-positive news from US retailers boosted the consumer discretionary index up 0.2 per cent, with shares in clothing retailer Gap rising 12.75 per cent to $33.17 (£21.72) their highest point in the past year.
The S&P 500 closed at 1,365 after a 0.7 per cent drop of 10 points. The Dow Jones Industrial Average experienced a 0.7 per cent drop of 92 points, to close at 12,878, while the Nasdaq Composite fell 0.4 per cent, down 10 points to close at 2,909.