Stocks End Lower for a Third Consecutive Day
Stocks fell for a third straight day amid ongoing worries over the euro zone debt crisis. However, all three major indexes pared some of their losses in late trading following a report from the Wall Street Journal that the Federal Reserve is moving closer to action to boost economic growth.
The Dow Jones ended the day 0.82% lower at 12,617.32, the S&P 500 ended the day 0.90% lower at 1,338.31, and the Nasdaq ended the day 0.94% lower at 2,862.99.
All sectors in the S&P 500 ended the day sharply lower. The losses in the S&P 500 were led by Energy sector, which ended the day 1.47% lower. Industrials ended the day 1.34% lower, while Basic Materials sector ended the day 1.02% lower. Transportation sector ended the day 1.28% lower. Consumer Cyclical sector ended the day 1.18% lower. Financials fell 0.57%.
Among the major losers in trading today were United Parcel Service Inc. (NYSE: UPS), which ended the day 4.63% lower at $74.34, Gentex Corporation (NASDAQ: GNTX), which ended the day 29.05% lower at $15.01, DeVry Inc. (NYSE: DV), which ended the day 24.53% lower at $20.80, Cisco Systems Inc. (NASDAQ: CSCO), which ended the day 5.91% lower at $15.12, and Bruker Corporation (NASDAQ: BRKR), which ended the day 13.70% lower at $11.53.
Among the major gainers in trading today were Baidu.com Inc. (ADR) (NASDAQ: BIDU), which ended the day 7.33% higher at $114.95, and Six Flags Entertainment Corp. (NYSE: SIX), which ended the day 6.41% higher at $55.96.
On the economic front, a report released earlier today showed that manufacturing activity in the mid-Atlantic region dropped at a steeper rate than expected.
European markets ended mostly lower today, with the EURO STOXX ending the day 1.27% lower at 2,151.54. Markets in Asia also fell overnight, with the Hang Seng Index in Hong Kong ending the day 0.69% lower.
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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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