Forex Trading Closed
2010
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Another awful week for stocks. Thanks, Europe! (KSAT)
U.S. stocks ended lower Friday, logging the worst weekly losses in two months,
as eurozone fears continued to weigh on investor sentiment. The Dow Jones
industrial average lost 26 points, or 0.2%, finishing in the red for a fourth
consecutive day. The S&P 500 fell 3 points, or 0.3% and the Nasdaq composite
dropped 19 points, or 0.8%, booking their eighth consecutive daily declines.
Worries about Europe’s debt crisis continued to dominate the week amid a
series of lackluster debt auctions and rising eurozone bond yields. Stocks
around the world fell sharply as investors grew anxious, with the Dow dropping
4.8%, the S&P 500 losing 4.7% and the Nasdaq tumbling more than 5% this week.
That marked the worst weekly declines for all three indexes since mid-
September. Mounting yields continued to trouble investors on Friday. Italian
10-year bond yields moved back above 7%, a level that eventually required
bailouts for Greece, Portugal and Ireland. The Spanish 10-year yield also rose
to within spitting distance of the worrisome level. “We could fall into a
vicious cycle where borrowing costs rise, triggering downgrades which then
cause yields to increase further,” said Kathy Lien, director of currency
research …
UFXMarkets -Daily Gold & Forex Trading News-19-September-2011
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