Friends
Stocks slumped under the weight of worries about Italian politics and debt and the contagion that could result. We’ve seen this movie before, and you probably remember the near collapse of Greece some years back. Once again, the future of the Euro is being debated as many in the European Union aren’t able to carry their weight. Stocks sold off at the open of trading and the Dow tumbled more than 500 points at its worse point of the session.
By the close, the Dow Jones Industrial Average was down 391 points to finish the day at 24,361. The S&P 500 was down 31 points to close at 2,689. Gold was down $4 to trade at $1,299, while oil was down $1.06 to trade at $66.82 per barrel WTI.
After the bulls’ hard work getting the market averages back into positive territory for the year, we now find ourselves down in the Dow and just slightly positive for the S&P. The trading range continues. Let’s see what else develops this week.
Have a nice evening everyone.
