The Dow Jones industrial average, a closely watched barometer of the economy’s health, dipped below the 10,000 threshold on Monday, delivering a psychological setback as investors braced for more market volatility.
When the final bell sounded, the Dow had fallen to 9,908.39 — its lowest level in three months — as lingering fears over a debt crisis in Europe undermined confidence in American financial institutions.
Analysts played down the significance of the Dow’s tumble below the five-digit mark. But they did not deny the broader message it underscored: that the energy of last year’s rally seems to have fizzled as the market comes to terms with the reality of an uneven recovery. (more)
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