Dow Drops 280, Markets Down Across the World

The Dow started the trading day down 200 and could not recover from there, as stock markets across the world fell today. The story was much the same for the NASDAQ and S&P 500, which both stumbled out of the gate and never bounced back. The Dow closed down -279.47 points, ending the day at 17,826.30. The NASDAQ lost -75.97 points to close at 4,931.82, and the S&P 500 fell -23.81 to close out today's trading at 2,081.18. Trading today saw markets down across the world, and both Europe and Asia tumbled. Japan's Nikkei lost -230.16 points, Germany's DAX fell -302.14, and Hong Kong's Hang Seng was down -86.23.

Falling Blue Chips Set The Tone For Trading Today.  Major players in the Dow were all down today, leading the market in point losses.
3M (MMM) dipped -4.18 points to close at $161.71 per share. Goldman Sachs (GS) was down -2.86 points and closed at $197.35. IBM (IBM) lost -2.46 points and ended the day's trading at $160.67 per share. Traveler's Insurance (TRV) dropped 3%, or -3.27 points, to close at $105.40 per share.

Major Credit Card Companies All Down On The Day.  All three major American credit card companies lost money today. American Express (AXP) lead the losses, dropping 4.44%, or -3.59 points, to close at $77.32 per share. Visa (V) was down -1.13 points in a continuing trend, and closed out the day at $64.52 per share. Discover (DFS) lost just -0.34 points to close at $59.08.

Mattel Up On Popular Social Media Outreach Program.  A recent social media outreach initiative from Mattel, which asks consumers which Barbie they'd like to see the company produce, has been catching on like wildfire with their demo. The program has been so successful that Mattel (MAT), which has had problems making gains even when the market conditions are favorable, added almost 6% in today's tough trading. Mattel gained 1.48 points to close at $26.75 per share, leading the market in real gains.

Time Warner, Comcast Merger Unlikely According To Latest Report.  News broke today that the merger between Time Warner (TWC) and Comcast (CMCSA) is not likely to get SEC approval. The information about the merger, which was leaked before markets opened today, sent the stock prices of both companies tumbling. Time Warner lost -8.59 points to close at $149.61. Comcast was down 2%, or -1.25 points, to close the day at $58.42 per share.

Pacira Pharmaceuticals Leads Health Services Sector In Gains Today.  Even the booming health services sector took a pounding today, but the standout stock was Pacira Pharmaceuticals (PCRX). The medication manufacturer has the sort of solid fundamentals that it takes to ensure long-term growth even in adverse market conditions. In trading today, Pacira bounced back from a recent downturn and gained 1.18 points to close at $84.65
Published on Apr 17, 2015
By Aaron Phillips
Aaron Phillips is a financial researcher and journalist based out of Michigan. He regularly writes the IG Daily and IG Weekly columns.

Copyrighted 2020. Content published with author's permission.

Posted in ...