Wall St ends week in red; Dow sheds 121 points

Wall Street ended the week in the red. The Dow shedding around 121 points, the Nasdaq losing 6 points and the S&P 500 down by more than 9 points. Crude hits another record high; oil prices blasting above USD 126 per barrel for the first time hitting a record close for a fifth straight session. Gasoline prices pushing above USD 3.67 per gallon on an average helped to forecast the rising global demand.

Moving from energy to trade the US trade deficit trade nearing sharply in March America’s demand for export fell by the largest amount since December of 2001.

Finally, Citi Group look into slump down the banking giant wants to sell off USD 400 billion of an assets over the next 2-3 years, when its done Citi could loss its status as America’s biggest buying assets. Citi CEO Vikram Pandit outlined the plan on Friday at the company’s annual investors and analyst meeting.