Friday, August 20, 2010

The Dow industrials fell more than 1 percent

 Stocks fell on Friday, tracking global equity markets lower as fears persisted that the economic recovery has hit a wall.
U.S. stocks tumbled to their lowest close in nearly a month on Thursday after anemic labor market and regional manufacturing reports indicated the economy was slowing.
"Basically growth is just not there," said Dave Rovelli, a trader at Canaccord Adams in New York. "Until this administration figures out how to get people hired, we are going to be seeing a lot of these big up days, big down days, and the market's going to be all over the place."
The Dow industrials fell more than 1 percent on Friday, weighed by Hewlett-Packard Co  after brokerages cut their price targets on the computer maker.

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