Markets Regress as European Woes Continue
Tuesday's upbeat and promising mood did not carry over into today's trading. The Dow Jones retreated 160.83 points to close at 12,419.86 points while the Nasdaq fell 33.63 points to 2,837.36. The S&P 500 continued the negative trend by dropping 19 points to close at 1,313.32. The growing optimism about European bank recapitalizations wasn't enough to lift the market as the Euro continued to fall this afternoon. However, gold managed to have a strong outing despite spending most of the day in the red. In other news, oil prices dipped to a new low for the year at $87.84 per barrel- a welcomed change for summer time travelers.Facebook (FB) and Blackberry (RIMM) continued to struggle today as both posted significant losses.
Word on the Street
Published on May 30, 2012By InvestorGuide Staff