The blue-chip index sinks 213 points. Selling is deep as S&P cuts debt ratings for Greece and Portugal. Home prices increase from last year. Ford profit jumps; 3M and DuPont boost guidance.
Posted by Elizabeth Strott and Charley Blaine on Tuesday, April 27, 2010 9:30 AM
Updated at 6:42 p.m. ET
Stocks suffered their sharpest one-day losses since early February today. But it wasn't the fault of Goldman Sachs (GS), whose shares closed up on the day.
Instead, blame Greece and Portugal, whose long-term debt was downgraded by Standard & Poor's this morning. Greece's debt was downgraded to junk.
The Dow Jones Industrial Average ($INDU) fell 213 points, or 1.9%, to 10,992, the first close below 11,000 for the blue chips since April 9 and their worst close since April 8.
The Nasdaq Composite Index ($COMPX) shed 51 points, or 2%, to 2,471, and the Standard & Poor's 500 Index ($INX) lost 28 points, or 2.3%, to 1,184.
The big question from today's sell-off is whether this was a one-time event or the beginning of a longer pullback.
Read the entire story
"It is not enough to know that there is a shadow government pulling the strings of the visible government- we must also act to expose it, and defeat it!"-Mark Matheny
Subscribe to:
Post Comments (Atom)
-
SSTNews Mark Matheny Every Year the World Economic Forum releases what is called a "Global Risks Report" What is interesting is ...
-
Mercola.com Posted by: Dr. Mercola December 05 2009 22,565 views Jordan McFarland, a 14-year-old boy from Virginia, is weak and s...
-
SSTNews Mark Matheny Every Year the World Economic Forum releases what is called a "Global Risks Report" What is interesting is...
No comments:
Post a Comment