Stocks sold off yesterday as Italy's bonds broke above 7%, a level at which
economists say the country cannot sustain its debt service. The euro fell 2.1%,
its biggest drop in six months, while the U.S. dollar and U.S. Treasurys
rallied. At the close, the Dow Jones Industrial Average fell 389 points (3.2%),
the S&P 500 was off 47 points (3.67%), and the Nasdaq fell 106 points (3.88%).
Volume on the NYSE increased to 1.1 billion shares and 599 million shares traded
on the Nasdaq. Decliners outnumbered advancers on the Big Board by more than
9-to-1 and 7-to-1 on the Nasdaq. Click to Enlarge All 10 S&P sectors were down
yesterday as the index turned down from its 200-day moving average. The index
experienced its worst loss since mid-August, driving it through its near-term
support at the 20-day moving average and the former neckline at 1,260.
No comments:
Post a Comment