Dow falls to its lowest level since January $NAS100.I
- Published: 15 May 2012
- US markets have been lower in four out of the last five trading days with speculation that Greece may exit the EU intensifies. Despite recent elections Greek politicians have struggled to form a government
- Financial and energy stocks led the losses in the S&P overnight. JPM and BAC led the major financials lower and European banks were also weaker with continued concerns surrounding Greece. Energy stocks were hurt by a slump in commodity prices due to European uncertainty and a potential continuation of the Chinese slowdown
- European Industrial production unexpectedly fell for the month of March, the index fell 0.3% against economists expectations of a rise of 0.4%
- Leading the moves on the Dow was JPM, BAC, INTC and GE which all fell 3.17%, 2.65%, 2.23% and 2.16% respectively
- DOW -0.98%, S&P500 –1.11%, NASDAQ –1.06%
- The EUR weakened to its lowest level in more than three months against the USD on Greek concerns. The AUD has fallen below parity
- Gold fell to a Dec 30 low and Crude made a five month low overnight
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