Off the Charts
How low can the market go? It was another brutal day for stocks as the small gap up was sold right from the opening bell. All sectors closed the day in the red with the financials and industrials getting hit the hardest. The Dow and S&P 500 finished the day down 1.4%.
After yesterday's failed rally attempt, this morning's higher open had traders on alert for another potential bounce. However, persistent worries about the fiscal cliff and flaring tensions in the Middle East were enough to trigger a potent move through yesterday's low. After consolidating early losses around lunch time, the market resumed its sell-off around 2 p.m. ET, as the most recent Fed minutes cast gloom over US economic prospects....934 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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