Posted on 12/08/2009 12:18:43 PM PST by Signalman
NEW YORK (CNNMoney.com) -- Stocks tumbled Tuesday afternoon across the board, as investors eyed weak global markets, a rising dollar, falling oil and gold prices and some disappointing profit news from 3M, McDonald's and Kroger.
The Dow Jones industrial average (INDU) tumbled 100 points, or 1%, with more than two hours left in the session. The S&P 500 index (SPX) lost 10 points, or 0.9%. The Nasdaq composite (COMP) shed 11 points, or 0.5%.
Stocks slipped right out of the gate as investors took a cue from falling global markets and a rising dollar.
The weak dollar has added to stock gains over the last nine months, but for the last two weeks, the greenback has started to make a comeback versus the euro. The U.S. dollar has remained weak against the yen.
A stronger dollar pressures dollar-traded commodities and commodity stocks, as well as companies that do a lot of business overseas and therefore benefit from a weak U.S. currency.
Stocks ended mixed Monda
(Excerpt) Read more at money.cnn.com ...
Oh Man, I’m sorry guys, my bad, I just dumped a ton of money into precious metals. Happens every time. I have also found that if I buy the NFL jersey of one of my favorite players, he will have a career ending injury in his next game.
Did he really say we have to keep spending our way into prosperity in his dumbass speech??
“Did he really say we have to keep spending our way into prosperity in his dumbass speech??”
Yup, I’m beginning to think he really is a blonde.
Hey, I’m a blonde and I’m not even that dumb!
LOL. My sincere apologies.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.