The Dow Jones Industrial Average lost 216.4 points today, about 1.55% — its largest fall since Nov. 7. At one stage the benchmark was up 81 points; the intraday trading range of about 297 points was the largest since Jan. 2. The Dow crossed zero 19 times today. Just three of the 30 stocks rose: McDonald’s (MCD), up 0.9%, Verizon Communications (VZ), up 0.7%, and Wal-Mart Stores (WMT), which rose 0.06%.
The Dow closed at 13,784.17, its lowest level since Jan. 23. Much of the loss came in the late afternoon, perhaps as the reality of Italy’s election results (and what they mean for the euro and, by extension, the global economy) came into sharper focus, as well as the growing awareness that the budget sequester is likely to kick in on March 1.
The Standard & Poor’s 500 also fell sharply, losing 1.83% to close at 1,487.85. Today was also the S&P’s largest fall since Nov. 7; the index closed at its lowest level since Jan. 18.
The Russell 2000 index saw the biggest drop of the three, down 2.22% to close at 895.84. Again, it was the largest fall since Nov. 7, and the lowest close since Jan. 18.
No comments:
Post a Comment