BY admin | October 13, 2011
US stock market today is going down. Dow Jones Industrial Average (DJIA), S&P 500 Index and Nasdaq all are going down.
After several days of Wall Street high with stocks going up, today seems to be the time when investors are trying to make some quick money. Banks and tech companies stock had gone up considerably during the last few days. Today reverse is happening at least with the bank stocks.
For the last close to a week, S&P rallied to a level never seen before in the last two years. Dow Jones that had once gone considerably down below 11K mark, the last few days were like a dream. But as every day is different, for stock markets it is a new day every day and the rise and fall doesn’t really mirror the economic condition of a nation.
Had the stock markets been mirror image of the economic conditions, the Chinese stocks should have been the best performing stocks as their economy has gone up by 11-10 percent per annum during the last more than a decade. But their stocks have been the worst performers in the world.
Dow Jones Industrial Average (DJIA), S&P 500 Index and NASDAQ, all are down today after the market opened this morning.
The worst performer at Dow Jones today was JPMorgan that lost more than six percent today. Bank of America was another loser at the stock market today as it lost more than 5.5 percent of its value.
James Dunigan, a leading finance expert says, “I don’t know that the road is completely clear…We may be a little bit ahead of ourselves from the rally we’ve seen as far as what that final package in Europe looks like. It’s not going to be easy.”
Dow Jones Industrial Average (DJIA) was down 113.90 points, almost one percent this morning. At the time of filing this story it was at 11,405 points. S&P 500 Index was at 1,193.69 points down by 13.56 points or 1.12 percent. Nasdaq on the other hand was at 2,597.49 points down by 7.24 points.