As the market digested the latest jobs report--seen by some as not so bad and others as not so good--a funny and most likely unexpected thing happened--equities closed out the day by selling off.
The DJIA dropped 160 points, down almost 1% on the day, to close at 16,412.71. At the Nasdaq and S&P 500 it was a similar ending with Nasdaq off 2.6% and the S&P 500 down 1.25%. The Nasdaq closed at 4,127.73 and the bleeding in S&P 500 for the day settled at 1815.09, down 24 points for the session.
Bio techs and internet stocks led the fallout. Apple (AAPL), one of the Nadasq's heaviest hitters, finished the day up slightly after being down in early trading. It was the second straight down week for the Nasdaq and it's lowest close in two months. The dollar fell against the yen, gold climbed higher and oil finished at 101.06. Just in mid-February oil traded as low as $97 a barrel. 10-year U.S. Government bond yields decline as bond prices rose.
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