Jamesb101.com

commentary on Politics and a little bit of everything else

Stocks drop again……Is the Market looking for Reason to retreat?

I know things a bit unsettled out there in the world…

But One gets the impression that the market is actually looking for a reason to retrench from the 11,000 level….

Things wher a lot worst right after the Holidays…but the market climbed….

What’s going on out there?

After sliding last week into technical corrections, U.S. stock market indexes have extended their losses as concerns in Europe and Asia have overshadowed modestly positive U.S. economic data. Investors shunned risky assets as concerns mounted that the economic turmoil will stunt global demand. Crude-oil prices slipped below $69 a barrel and platinum, palladium and silver futures dropped.

“What we have going on here is a growth scare, and it’s not just about Europe, although that’s the area getting the most publicity,” said Mark Stern, chief investment officer at Bessemer Investment Management. “For the next month or two, I don’t think people will turn away from that growth scare to look at other fundamentals.”

All of the Dow’s 30 components were in the red, led by a 3.6% drop in Alcoa as metals futures slid. Caterpillar fell 3.3%. Companies with greater international exposure declined, including DuPont, off 3.2% and General Electric, off 3.1%.

Slumping commodities weighed on energy stocks. Marathon Oil fell 4.8%, while Tesoroslid 4.2% and Valero Energy shed 3.5%.

Global markets skidded, with Korean stocks falling after a group said the North Korean military had been ordered to be ready for combat. Political tensions between North and South Korea have risen since a team of international investigators concluded that Pyongyang was to blame for the deadly sinking of a South Korean naval warship in March. The Nikkei Stock Average dropped 3.1% in Tokyo and the Kospi lost 2.75% in Seoul.

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May 25, 2010 - Posted by | Blogs, Breaking News, Media, The Economy, Updates

2 Comments »

  1. What’s going on out there?
    —————

    President Barack Hussein Obama

    OK.. well unemployment is STILL rising in CALIFORNIA

    Manufacturing jobs were slashed in April

    Senior citizens are still SEVERELY damaged from the DJIA drop that incurred AFTER Obama was inaugurated

    forecasters KNOW that stimulus funds are about to DRY UP in 2011

    and that is a BRIEF snippet of what is going on

    Y’all are going to need CONSERVATIVE DEMOCRAT to bring PRIDE in purchasing( non-military) USA goods GLOBALLY or things are going stay crappy

    CD can fix this mess

    Comment by Timothy Leal | May 25, 2010 | Reply

  2. I sure am glad Leal explained all this to me

    Comment by My Name Is jack | May 25, 2010 | Reply


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