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Stocks drop 1% on China, Europe fears (DJIA down 140)
| Maureen Farrell
Posted on 04/23/2012 9:53:49 AM PDT by Signalman
NEW YORK (CNNMoney) -- U.S. stocks fell 1% Monday as investors grew concerned about European political uncertainty and another sign of a slowdown in the Chinese economy.
France's prime minister Nicolas Sarkozy came in second place in the first round of presidential elections Sunday, and on Monday, Dutch Prime Minister Mark Rutte resigned.
That combined with a slowdown in China's manufacturing was enough to unnerve investors at the start of what will be a busy week on the economic and earnings front.
"The events over the weekend re-ignited concerns that the European community is going to have trouble working out a coordinated plan for austerity," said Douglas DePietro, head of equity sales trading at Evercore. "There's no economic data out of the U.S. today to thwart a sell-off."
The Dow Jones industrial average (INDU) dropped 138 points, or 1.1%. TheS&P 500 (SPX) shed 14 points, or 1%. The Nasdaq (COMP) lost 38 points, or 1.3%.
(Excerpt) Read more at money.cnn.com ...
KEYWORDS: djia; market
posted on 04/23/2012 9:53:58 AM PDT
posted on 04/23/2012 9:56:28 AM PDT
(Stop feeding the beast; spend money only with those who support traditional American values.)
"Turn those machines back on!"
posted on 04/23/2012 9:57:31 AM PDT
(Don't wake up in a roadside ditch. Get rid of Romney.)
Wait, Europe...you mean Obama isn’t the answer?
Silver sure is taking a hit.
posted on 04/23/2012 10:01:41 AM PDT
by Terry Mross
("It happened. And we let it happen." - Peter Griffin, FAMILY GUY)
CNN Money always says ‘up’ days are because of something in the US and ‘down’ days are always because of something happening somewhere else.
It’s as sure as ‘unexpected’ LOL!
posted on 04/23/2012 10:04:31 AM PDT
(Dumb sluts: Lifeblood of the Media, Backbone of the Democrat Party!)
You idiot! Get back in there and sell...sell
posted on 04/23/2012 10:11:52 AM PDT
The DJIA is still up over 12,888 (Apr 23 1:32pm ET). Obama’s low point was when the DJIA was pushing 10,000. So long as it stays above 11,000 Obama can claim “Growth”. Sure a lot of it is just inflation but when have facts ever stopped Obama. If it drops into the 10,000 range before October, then Obama will be in real trouble.
posted on 04/23/2012 10:38:54 AM PDT
(There are millions of paranoid people in the world and they are all out to get me.)
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