Markets Plummet on Continuing Anxiety over China and Greece (IBM, DKS)

Major indices fell by the largest amount that they had in 2012 so far, as investors continued to be concerned over the state of China’s economic growth and over the Greek debt crisis. Gas prices were also down today, ending a 27 day streak of continual increases. In corporate news, investors will be soon be able to tap IBM (IBM)’s Watson computer to help model risk and other factors. Dick’s Sporting Goods (DKS) saw a 27 percent increase in net revenue in their Q4 as their new stores became smashing financial successes.

Word on the Street

• Major indices were sharply down today.
• Worries over China’s economic growth continue to stay on investors’ minds.
• Gas prices fell for the first time in 27 days.
• Gold futures fell below $1,700 for the first time in a month and a half.
• IBM’s (IBM) famous AI computer, Watson, will be put to work advising investors.
• Dick’s Sporting Goods (DKS) reported a monstrous Q4.

Interesting Tidbits

• The Profits Bubble
• Why Big Money is Turning to China