For a second straight week, the US stocks plunged giving the Dow
Jones Industrial Average the biggest loss of 2012 mainly due to
heightened concern over Europe’s debt crisis, political turmoil in
Greece and the $ 2 billion trading loss suffered by JPMorgan (NYSE :
JPM) that pulled down bank shares.
For the week, there was a drop of at least 1.7 percent in financial
and technology stocks in the Standard & Poor’s Index. JPMorgan
dropped 11 percent and Cisco Systems’ (NASDAQ : CSCO) forecast missed
analysts’ estimates. Macy’s Inc dropped 7.6 percent and Fossil Inc
plunged 39 percent amid disappointing projections. One of the bright
points was the rising of Walt Disney by 6.1 percent to an all-time high.
click here to know more:- http://www.sharewellnewswire.com/biggest-loss-for-dow-in-2012-on-heightened-europe-concern/
No comments:
Post a Comment