Forex Trading Fund
2009
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Stocks slip on worries over growth and Europe (KSAT)
Stocks ended in the red Tuesday, amid worries about U.S. economic growth. But
losses were trimmed after the International Monetary Fund unveiled an enhanced
lending program to help countries struggling with short-term liquidity
problems from Europe’s debt crisis. The Dow Jones industrial average ended
down 54 points, or 0.5%. The S&P 500 slipped 5 points, or 0.4%, and the Nasdaq
composite lost 2 points, or 0.1% Earlier, all three indexes were down about
1%. The turnaround came after the IMF announced that it is revamping its
lending facility to better serve “crisis-bystanders,” the countries with
strong economic policies and fundamentals that are struggling with urgent
financing needs during periods of “heightened economic or market stress.” The
intergovernmental agency said that its program could be used “as insurance
against future shocks” and help “break the chains of contagion.” Though the
major indexes bounced off their lows following the news, they remained stuck
in negative territory as investors weighed the effectiveness of the IMF’s new
credit line. “It’s more stimulus, but it doesn’t seem that it’s going to be
enough,” said Joseph Saluzzi, co-head of equity trading at Themis Trading.
“This is certainly not the bazooka that will …
UFXMarkets *Euro Bailout Fund & Currency Trading News* 23-October-2011
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