Stock Market Watch

Stocks End Sharply Lower on Last Trading Day of the Quarter

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Stocks fell sharply on the last trading day of what has been a dismal quarter for the global equity markets. On Friday, all three major indexes fell sharply on worries that European policymakers will not act quickly enough to solve the euro zone debt crisis. Stocks were also pushed lower by weak consumer spending data in the U.S. and higher than anticipated inflation in the euro zone.

The Dow Jones ended the day 2.16% lower at 10,913.38, the S&P 500 ended the day 2.50% lower at 1,131.42, and the Nasdaq ended the day 2.63% lower at 2,415.40.


Conglomerates were the worst performers in the S&P 500 on Friday, ending the day 4.03% lower. Basic Materials stocks ended the day 2.58% lower, while Energy stocks ended the day 2.54% lower. Financials ended the day 2.86% lower. All sectors in the S&P 500 ended the day in red.

Among the major losers in Friday’s trading session were Eastman Kodak Company (NYSE: EK), which ended the day 53.84% lower at $0.780, Ingersoll-Rand Plc (NYSE: IR), which ended the day 12.11% lower at $28.09, Wynn Resorts Limited (NASDAQ: WYNN), which ended the day 8.33% lower at $115.08, Focus Media Holding Limited (ADR) (NASDAQ: FMCN), which ended the day 17.31% lower at $16.83, and Micron Technology Inc. (NASDAQ: MU), which ended the day 14.14% lower at $5.04.

Among the major gainers in Friday’s trading session were Acura Pharmaceuticals Inc. (NASDAQ: ACUR), which ended the day 14.86% higher at $3.40, and DemandTec Inc. (NASDAQ: DMAN), which ended the day 8.10% higher at $6.54.

In Europe, stocks ended mostly lower in Friday’s trading session, with Euro Stoxx 50 ending the day 1.48% lower. In Asia, markets ended mostly lower, with Hang Seng Index falling 2.32% to 17,592.41.

 

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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