The Dow somehow swung into positive territory — if only by 20 points — in the final minutes of trading on an otherwise weak day for the market. The index’s two top performers were Caterpillar (CAT) and Alcoa (AA), which had dragged the market down on Wednesday. But the overall tenor of the market was downbeat on Thursday, with 18 of the 30 Dow components falling on the day. The S&P 500 ended 0.2% lower.
Crude futures slid 2.5% to $102.78 (at this rate, the price of gas will no longer be a political hot-button issue by April). Oil stocks slid and may have helped pull the rest of the market lower.
But the biggest drag on the market was Europe — renewed concerns about capital strength, Greece’s possible need for another bailout, and the overall weak European economy, dragged stocks down overseas and sunk the U.S. financial sector.
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