Markets Retreat on Worries Over Italy's Elections (LOW, BKS, MS, BAC)

Although they started the day strong, all major indexes ended Monday down more than 1% as investors worried that the outcome of the Italian election could put a damper on Europe making it through its financial crisis. The Euro continued to lose ground to the US Dollar as it fell below $1.31 for the first time since early January. Shares of retailer Lowe's (LOW) retreated on earnings that disappointed analysts, while Barnes & Noble (BKS) soared over 11% after the company's Chairman announced plans to purchase the retail assets of the bookseller.
Among the sectors that lost ground for the day, bank stocks took the biggest hit with Morgan Stanley (MS) down 7% and Bank of America (BAC) down 4%.

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Published on Feb 25, 2013
By InvestorGuide Staff

Copyrighted 2020. Content published with author's permission.

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