Stocks sank, dragging the Standard & Poor’s 500 Index to its worst loss in more than three months, and Treasuries rallied as slower growth in jobs and manufacturing fueled concern the economy is faltering. The Dollar Index erased earlier losses and commodities fell.
The S&P 500 plunged 2 percent to 1,318.78 at 3:39 p.m. in New York, its biggest slide on a closing basis since Feb. 22, and the Stoxx Europe 600 Index slid 1 percent. Ten-year Treasury note yields dropped below 3 percent for the first time since December and the Dollar Index rose 0.2 percent after sinking 0.4 percent earlier. The Swiss franc snapped a two-day drop against the euro. The S&P GSCI Index of commodities tumbled 1.5 percent.
http://www.bloomberg.com/news/2011-06-01/dollar-falls-on-u-s-growth-concerns-metals-decline-on-weak-china-output.html
Today's sell-off isn't about lousy data everyone saw coming. Today's sell-off is about two things:
1. It's a short week during the summer; a few leviathans can move markets without it "meaning" much of anything.
2. The market is in a negatively biased trading range. 1,340 is now very obviously resistance and 1,300-ish is support.
http://finance.yahoo.com/blogs/breakout/stock-slide-not-data-dummy-180607330.html
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Ακόμα κι εγώ, που δεν είμαι ο καλύτερος αναλυτής της αμερικάνικης οικονομίας, διέκρινα πριν δύο (2) μήνες ότι κάτι δε πάει καλά...
The S&P 500 plunged 2 percent to 1,318.78 at 3:39 p.m. in New York, its biggest slide on a closing basis since Feb. 22, and the Stoxx Europe 600 Index slid 1 percent. Ten-year Treasury note yields dropped below 3 percent for the first time since December and the Dollar Index rose 0.2 percent after sinking 0.4 percent earlier. The Swiss franc snapped a two-day drop against the euro. The S&P GSCI Index of commodities tumbled 1.5 percent.
http://www.bloomberg.com/news/2011-06-01/dollar-falls-on-u-s-growth-concerns-metals-decline-on-weak-china-output.html
Today's sell-off isn't about lousy data everyone saw coming. Today's sell-off is about two things:
1. It's a short week during the summer; a few leviathans can move markets without it "meaning" much of anything.
2. The market is in a negatively biased trading range. 1,340 is now very obviously resistance and 1,300-ish is support.
http://finance.yahoo.com/blogs/breakout/stock-slide-not-data-dummy-180607330.html
_______________________________________
Ακόμα κι εγώ, που δεν είμαι ο καλύτερος αναλυτής της αμερικάνικης οικονομίας, διέκρινα πριν δύο (2) μήνες ότι κάτι δε πάει καλά...
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