SELL OFF - Half of Tuesday's Gains Erased (XOM, VZ)

A day after thrilling broad market gains, finishing at the highest peaks this months, exchanges pulled back Wednesday. Growing negative sentiment among some investors who affirm the temporary global hubris and stock price boosts as a result of central bank measures may be a short-term experience at the sacrifice of long term gains. The burden of hope continues to rest on the shoulders of the US economy thanks to the halt of consistent exponential growth in the Chinese economy.
IBM (IBM) and Intel (INTC) led stocks down on higher than average volume. In corporate news, oil giants ExxonMobil (XOM) and Rosneft appear to be on the verge of a $500 billion joint venture to explore and produce oil in the Artic and Black Sea.
. Legendary value investor Warren Buffett announced he has prostate cancer.

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Published on Apr 18, 2012
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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