US Stocks Plummet Overnight
June 30th, 2010 by Lawrence Grasso
Closing Data
| Current | Change | % | |
|---|---|---|---|
| Dow Jones | 9,870.30 | -268.22 | -2.6% |
| NASDAQ | 2,135.18 | -85.47 | -3.8% |
| S P 500 | 1,041.24 | -33.33 | -3.1% |
| FTSE 100 | 4,914.22 | -157.46 | -3.1% |
| Nikkei 225 | 9,570.67 | -123.27 | -1.3% |
| ASX 200 | 4,345.70 | -38.8 | -0.9% |
| COMEX Gold - Dec 09 | 1,242.40 | 3.8 | 0.3% |
| COMEX Silver - Sep 09 | 18.635 | -0.083 | -0.4% |
| COMEX Copper - Sep 09 | 293.05 | -15.9 | -5.1% |
| WTI Spot | 75.94 | -2.31 | -3.0% |
| AUD-USD | 0.849 | -0.0233 | -2.7% |
| Aluminium | 1,996.00 | 50 | 2.6% |
| Copper | 6,800.00 | 195.5 | 3.0% |
| Lead | 1,828.00 | 26 | 1.4% |
| Nickel | 20,210.00 | 710 | 3.6% |
| Tin | 18,110.00 | 60 | 0.3% |
| Zinc | 1,852.00 | 41.5 | 2.3% |
U.S. stocks plummeted, sending the Standard & Poor’s 500 Index to its lowest level since Oct. 30, on concern over weakening growth in China and a slump in American consumer confidence.
The S&P 500 sank 3.1 percent to 1,041.24, after falling as low as 1,035.18. The Dow Jones Industrial Average dropped 268.22 points, or 2.7 percent, to 9,870.30.
Boeing Co., Caterpillar Inc. and Alcoa Inc. fell more than 5.5 percent after the Conference Board cut its estimate for Chinese economic growth. JPMorgan Chase & Co. slipped 3.8 percent after Moody’s Investors Service said the bank may face lost revenue from a cap on debit fees.
People are very concerned about the potential of a double-dip in the US. Perception is greater than reality, especially in the stock market, and it's the perceived notion of a double-dip that's weighing on the market today. The likelihood of it is probably fairly small but that doesn't prevent days like this.
Contact your Freeman Fox Stockbroker on 07 3031 9960 or 1800 003 369 Ext 7.
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