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dow2664 Trends in the stock market appeared bad, and then yesterday happened. The major index composites dropped significantly and the Dow made headlines throughout the day for its trends. The headlines were for reasons that continue to provoke and add to the anxiety many feel about the health and well being of our present economy in the U.S. The DJIA dropped over 512 points on the day or 4.31 percent and closed out at 11,383.68. This wiped out gains made this year so far for the major index composite. The Dow has not posted a day as bad since December of 2008. The extreme negative action yesterday only strengthened the thoughts that many have regarding a fall into another recessive period. Other composites fell red as well. The Nasdaq fell lower by 5.08 percent or 60.27 points and closed out at 2,556.39 and the S&P 500 dropped off by 4.78 percent or 60.27 points to close out at 1,200.07. It was the worst of days for stocks last session and the assumed catalyst for the negativity seems to stem from the initial jobless claims. The report from the Labor Department was weaker than what many had been expecting and this caused worries to increase in anticipation of today’s nonfarm payrolls and unemployment report. In addition to worry regarding this report, anxieties are on the rise on Wall Street relevant to eurozone debt problems that ultimately overflow and negatively affect the U.S. via global marketplace relationships. For today though, most eyes and ears will be anxiously awaiting the payroll and unemployment reports. Frank Matto
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