Skip to comments.Stocks in sharp sell-off (Down down 214)
Posted on 11/17/2011 11:41:31 AM PST by Signalman
NEW YORK (CNNMoney) -- U.S. stocks fell sharply Thursday as jumpy investors responded to a flurry of headlines and market talk.
Dow Jones industrial average (INDU) was down 203 points, or less than 1.7%, in afternoon trading; the S&P 500 (SPX) fell 24 points, or 1.9%, and the Nasdaq composite (COMP) eased 56 points, or 2.1%.
The selling gained momentum after the S&P 500 fell below 1,225, a key technical level that had been the recent moving average.
Traders said the the market remains on edge as the eurozone debt crisis appears to be spreading to larger economies in Europe.
Yields on Italian, Spanish and French government bonds have been rising this week amid doubts that EU policy makers will be able to resolve the eurozone debt crisis.
"Everyone is looking overseas and trying to figure out what's what," said Frank Davis, director of sales and trading at LEK Securities. Stocks could recover some ground later in the day "assuming nothing else comes out," he added.
(Excerpt) Read more at money.cnn.com ...
I bet they found out the GOP is going to cave on tax hikes
OWS wants to take credit for the decline.
The House of Cards is beginning to fall.
His shuck and jive routine isn't selling in America or overseas.
At 3 pm there will be a flagpole spike straight up...but its not fixed...
The Plunge Protection Team to the rescue!
Let OWS take credit!
The Union Pensions wrapped up in Wall Street are subject to this decline too!
The System is corrupt. See Ann Barnhardt’s blog for today!
It’s just the beginning of the crash. MF Global is causing brokers to exit the futures and options businesses. That’s what happens when customer funds are no longer sacrosanct.
Finally some profit taking on crude oil.
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