The Dow Stages a Comeback But Falls Short, Ends the Day Down 51 Points
The Dow attempted to stage a comeback today after falling 222 points, but failed to deliver as it ended the day down 51 points. Global economic concerns weighed heavy on the stock market today. Chinese and European markets plummeted today and Greece saw one of its worst trading days in a decade. After falling 5% yesterday, the energy sector succeeded in their comeback, finishing the day up 2%. The Federal Reserve unveiled a new proposal today aimed at big banks. Despite big banks holding on to more capital in case of another financial crisis, the Fed thinks they should do more. This proposal would affect eight of the nation's largest banks.