After three days of bad news about the debt crisis of Europe sent Asian and European markets down Monday, it was Wall Street Tower.
The Dow Jones industrial average fell as much as 180 points before paring back some of its losses. An another steep downgrade of the credit rating of the Greece, a warning on the Italy debt and a major defeat of the party in power to the Spain caused new concerns about Europe's debt crisis.
Who sent the euro lower against the dollar. A stronger dollar, it is more expensive for other countries buying US exports, hurt American businesses that sell goods abroad. Fears that Europe's debt problems could degenerate, as they did last year when the Greece fondue, sent stocks on the tumbling of the world.
The Dow Jones index fell 130.78 points, or 1%, to 12,381.26.
Standard & Poor 500 index lost 15.90 or 1.2%, to 1,317.37.
The Nasdaq composite fell 44.42 or 1.6%, to 2,758.90.
For the year to date:
The Dow Jones index is at 803.75, or 6.9%.
The S & P is 59.73, or 4.7%.
The Nasdaq is 106.03, or 4 percent.
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