Friday, November 18, 2011

U.S. stocks thrown again by Europe

 U.S. stock losses intensified on Thursday as investors sold equities as well as assets more typically used to hedge stock bets, as rising borrowing costs in Europe unnerved Wall Street.
“It came in with a wave probably being driven by computers, but when you have a wave of selling that is indiscriminate, and you see selling in hedges like gold and crude, it’s just selling assets to raise capital, and it’s made worse by options expirations on Friday,” said Marc Pado, U.S. market strategist at Cantor Fitzgerald.
“The equity market is schizophrenic, it should be on drugs if it isn’t already,” said Bob Andres, chief investment officer and strategist at Merion Wealth Partners.

Dow Jones Industrial Average

 (DJI: ^DJI )
Index Value:11,770.73
Trade Time:4:10PM EST
Change:Down 134.86 (1.13%)
Prev Close:11,905.59
Day's Range:11,676.35 -11,948.43
52wk Range:10,362.30 -12,928.50

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