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dow2664 A significant stock sell-off initiated on Wednesday and stock indices in the U.S. have struggled since. By mid-day of the last trading session, the Dow Jones Industrial Average had lost over 400 points. Investor fears were growing on a global perspective. The primary stock indices in Asia all closed over 2 percent lower. The primary indices in Europe dropped over 4 percent during their respective trading session. Reports posted yesterday relaying that the Chinese and eurozone manufacturing sectors are contracting. This added to the negative weight felt by the world marketplace yesterday and the pressure carried over into the U.S. trading session. Adding to the bad news in the U.S. was the weaker than expected jobs data that posted. According to the Labor Department, the number of Americans applying for first time unemployment benefits rose higher and posted at 423,000 for last week. This added to the pressure stock trends felt during the last session as well. Officially, the Dow Jones Industrial Average finished off the last session lower by 391.01 points and closed at 10,733.83. The DJIA had lost 500 points at one point during the session. The Nasdaq finished off the last session lower by 82.52 points and closed out at 2,456. The S&P 500 closed out negative by 37.20 points at 1,129.56. There appeared to be little safe haven. Even precious metal gold fell lower during the tidal wave of negativity. The sell-offs started early in yesterday’s session and trends showed no chance of rebound during the day. The activity was an overt symbol of investor trust. The economy is weak, and investors know it. The negative action yesterday was this understanding presenting in a more tangible form. Recession fears are growing. Frank Matto
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