Posted By RichC on February 23, 2011
The stock market was down on Tuesday in its biggest drop in 2011. The unrest in the Middle East and North Africa sent oil prices soaring while those buying considered gold or precious metals with the recent news from Libya.
The Dow Jones Industrial Average tumbled 178.46 points, or 1.4%, to 12212.79, the Standard & Poor’s 500-stock index fell 27.57, or 2.1%, to 1315.44, and the Nasdaq down 77.53, or 2.74%. All indices were down after recent moves up. This, along with confidence that corporate earning would be strong and we would start adding jobs. I think Americans ‘were starting’ to believe that there was light at the end of the tunnel for the US economy.