Stock Market Watch

Stocks Sharply Lower in Mid-Day Trading

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Stocks are sharply lower in mid-day trading on fresh concerns over the euro zone debt crisis. Investors are concerned that European leaders will find it difficult to raise funds to stem the euro zone debt crisis. Last week, European leaders had announced that they will leverage the European Financial Stability Facility by four to five times to assist struggling euro zone economies.

With renewed worries about Europe’s ability to contain the debt crisis, all three major indexes are sinking in trading today. At last check, the Dow Jones was down 1.49% to 12,048.94, the S&P 500 was down 1.55% to 1,265.12, and the Nasdaq was down 1.28% to 2,702.12.

Among the major gainers and losers in trading today are The Shaw Group Inc. (NYSE: SHAW), which is currently trading 4.87% higher at $23.26, Humana Inc. (NYSE: HUM), which is currently trading 8.11% higher at $86.87, Momenta Pharmaceuticals Inc. (NASDAQ: MNTA), which is currently trading 19.89% higher at $14.68, Fusion-IO Inc. (NYSE: FIO), which is currently trading 9.34% lower at $30.76, Sohu.com Inc. (NASDAQ: SOHU), which is currently trading 11.49% lower at $61.07, and MEMC Electronic Materials Inc. (NYSE: WFR), which is currently trading 9.64% lower at $6.


Earlier today, troubled broker-dealer MF Global Holdings Ltd. (NYSE: MF) filed for bankruptcy. The New York City-based company filed for bankruptcy due to its exposure to European debt. Last week, the company’s shares fell 67% after it reported record quarterly losses and disclosed its exposure to euro zone debt. Trading in MF Global shares has been suspended today.

In the commodities market, oil prices are down today. Oil prices are falling as investors shed risk assets on renewed worries about the euro zone. At last check, crude oil for delivery in December on the New York Mercantile Exchange was down 1.2% to $92.18 a barrel. Despite today’s losses, crude oil prices are headed for their biggest monthly gain in more than two years.

edliston
Post Written By: Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.


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Ed Liston

Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing.

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