The primary index composites finished the last trading session in the red. Not
only did the Dow Jones, Nasdaq and S&P 500 finish the last session red, but all
indices finished the week overall on the negative side of break-even again.
script type=text/javascript> The Dow Jones Industrial Average finished off
yesterday in the red by 1.57 percent at 10,817.65. The Nasdaq finished off red
by 1.62 percent at 2,341.84 and the S&P 500 closed out in the green by 1.50
percent at 1,123.53. The DJIA ended the week lower by 4 percent. The Nasdaq
finished the week lower by 6.6 percent and the S&P 500 finished off lower by 4.7
percent overall for the week. The week was another volatile one for the U.S.
stock market and Friday culminated with a significant stock sell off. Major news
posting this week related to the Morgan Stanley report which identified the
European and American economies as both being dangerously close to recession. It
might not be a bear market yet in the U.S., but it is definitely setting up for
the easy transition. Now, because of the slowdowns in the European and American
economies, additional concerns are presenting regarding the Chinese economy. It
is a domino effect and the results are skewed negative on a global scale. Global
fears are building, and as a result stock market outcomes around the globe were
weaker yesterday. Asian indices went red as did the primary European indices.
Overall, it was another very disappointing week for the U.S. stock market and
global counterparts. Frank Matto
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