Business

US shares slide after strong quarter

NYSE traders Image copyright Reuters

(Close): US stock markets closed down today, as investors cashed in profits on the last trading day of the quarter.

By the close of trading the Dow Jones had fallen 0.31% to 20,663.22, dragged lower by Exxon Mobil and JPMorgan Chase.

The S&P 500 edged 0.23% down to 2,362.72 and the Nasdaq spent most of the day in positive territory but closed a touch lower at 5,911.74.

BlackBerry shares closed up 11%, following better than expected results.

Despite ending the quarter with a whimper, the S&P 500, Nasdaq and the Dow chalked up gains of at least 4.5% in the period.

"So far the market has navigated a somewhat uncertain terrain with grace," said Adam Sarhan, chief executive officer at 50 Park Investments.

"It's perfectly normal on the last day of the quarter and the last day of the month to see some profit taking, especially after a strong run," he said.