US Markets plunges over Europe debt fears
Friday, Feb 05, 2010 |
US Markets plunged on Thursday on fears about U.S. unemployment and debt problems in Portugal, Spain and Greece.Dow Jones industrials fell below 10,000 in late trade,though it settled slightly above the mark.The 30-stock Dow Jones industrial average was down 2.61 percent,down 268.37 points to 10002.18. The broad Standard & Poor's 500 index was down 34.17 points, down 3.11 percent, to 1063.11.Nasdaq composite index down 65.48 points,was down 2.99 percent, to 2125.43.CBOE Volatility Index spiked more than 20 percent to 26.08.
Cisco was the only gainer on Dow with gains of 0.39 percent.Financials were hardest hit with Bank of America down 4.96 percent,Citigroup was down 5.04 percent,JPMorgan down 4.77 percent,Goldman Sachs down 4.26 percent.Stronger dollar sent oil and gold prices lower.Exxon Mobil was down 2.2 percent, while Chevron Corp. was down 2.3 percent.MasterCard was down more than 10 percent after the company posted earnings that disappointed investors.
Crude oil plunged 5 percent on Thursday to settle at $73.14 a barrel.Dollar gained versus the euro on worries about debt in Europe. Dollar fell versus the Japanese yen.Gold was down more than 4 percent down $48 to settle at $1,064 an ounce.
|
|
