Stocks dropped off significantly after opening bell in the U.S. this morning
but did begin to rebound during the trading session today. The DJIA, along with
the Nasdaq and the S&P 500 spent the majority of the trading session in the red.
World market indices were tumbling during their respective sessions and this
action influenced outcomes during the U.S. trading sessions. Investors continued
to hold worries relevant to the European financial crisis, specifically
pertaining to the debt crisis in Greece. Fear of the unknown was driving market
action and trends today. Sell-offs were wide spread during the session. Concerns
over President Obamas plan to cut the national debt grew throughout the day as
well. The President has stated that he will tax high incomes to help reduce the
national debt. Obviously, there are many in the business world that oppose this
strategy. As the trading session approached close, the primary indices continued
to trend in the red and ultimately closed out yesterdays trading session on the
negative side of break-even. The Dow Jones finished off lower by .94 percent at
11,401.01. The Nasdaq finished lower by .36 percent at 2,612.83. The S&P 500
closed out lower by .98 percent at 1,204.09. The good news for the stock market
is that after absorbing the initial sell-off, stock indices slowly notched their
way higher and gained approximately 100 points in the last hour of the session.
Rumors floating regarding the financial situation in Greece were progressive. A
deal to bailout Greece is closer and investors, along with the primary index
composites, responded. Frank Matto
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