Slumping Stock Market

[ConspiracyBuff]

The Slumping Stock Market:

Oil prices, tech weakness slap stocks:
Dow off nearly 122 as crude oil pushes near $75. European Union fines Microsoft more than $357 million. Boatmaker Brunswick's sales decline leads to worry the rich are getting squeezed. Genentech slips as a key cancer drug's sales fall short.



Stocks tumbled as oil prices reached toward $75 a barrel and tech shares continued their swoon.
The Dow Jones industrials lost 122 points, or 1.1%, to 11,013. Intel (INTC (http://moneycentral.msn.com/detail/stock_quote?Symbol=INTC), news (http://news.moneycentral.msn.com/ticker/rcnews.asp?Symbol=INTC), msgs (http://moneycentral.msn.com/community/message/board.asp?Symbol=INTC)) fell about 4.2%, Microsoft (MSFT (http://moneycentral.msn.com/detail/stock_quote?Symbol=MSFT), news (http://news.moneycentral.msn.com/ticker/rcnews.asp?Symbol=MSFT), msgs (http://moneycentral.msn.com/community/message/board.asp?Symbol=MSFT)) shed nearly 1.95%, and Hewlett-Packard (HPQ (http://moneycentral.msn.com/detail/stock_quote?Symbol=HPQ), news (http://news.moneycentral.msn.com/ticker/rcnews.asp?Symbol=HPQ), msgs (http://moneycentral.msn.com/community/message/board.asp?Symbol=HPQ)) lost 2.7%.
The Standard & Poor's 500 index fell nearly 14 points or 1.1% to 1,259. But the Nasdaq Composite was just plain clobbered, falling 38.6 points, or 1.8%, to 2,090. So far this week, the Nasdaq is down nearly 1.9%, and it is at its lowest level in a month. The Nasdaq 100 index ($NDX.X (http://moneycentral.msn.com/detail/stock_quote?Symbol=$NDX.X)) was harder hit today, off nearly 32 points, or 2.1%, to 1,501.
Alcoa (AA (http://moneycentral.msn.com/detail/stock_quote?Symbol=AA), news (http://news.moneycentral.msn.com/ticker/rcnews.asp?Symbol=AA), msgs (http://moneycentral.msn.com/community/message/board.asp?Symbol=AA)) and General Motors (GM (http://moneycentral.msn.com/detail/stock_quote?Symbol=GM), news (http://news.moneycentral.msn.com/ticker/rcnews.asp?Symbol=GM), msgs (http://moneycentral.msn.com/community/message/board.asp?Symbol=GM)) were the only Dow stocks with gains on the day....
http://articles.moneycentral.msn.com/Investing/CNBC/Dispatch/060712markets.aspx

[Rhino]

You have a strange definition of 'slumping'.

[The_Sonarman]

I agree. "Slumping"?

My group is making a stomp down fortune in the markets.

[ConspiracyBuff]

Okay well they just got worse...sorry maybe I should have said the stocks have significant drops? My reasoning was that in my opinion 11,000 is the slumping point concerning the Dow. It was only 14 points above that at the time and I din't anticipate big gains, now it is well below 11,000.

[The_Sonarman]

Ah. Now I understand. You can pretty much blame:

1. Fed Rate Hikes
2. The onset of World War 5 over in the Middle East
3. Oil at $76 per barrel today, given reason 2 above

Bernake has been pushing us towards a slowdown (re: recession). Looks like he's going to get his wish.

[Naturalized-Texan]

And we haven't had a technical correction for a long time. Maybe this is it. However, the Dow is still higher than it was during most of June and about 3,500 points higher than in late 2002.

[HooverWasRight]

And we haven't had a technical correction for a long time. Maybe this is it. However, the Dow is still higher than it was during most of June and about 3,500 points higher than in late 2002.


I wonder how stocks that detect wmd's have faired? LOL