Stocks Slump on Debt Fears

Posted By on July 18, 2011

Don’t look at your IRAs or 401K plans today — actually don’t look at them until the powers that be in Washington DC can figure out how to rein in our “Governement Gone Wild.” (I’ve already given up on Europe)

Stocks fell as the combination of anxieties about debt in the bloc of euro-using nations and a lack of progress in U.S. debt-ceiling negotiations sparked an early selloff.

The Dow Jones Industrial Average shed 146 points, or 1.2%, to 12334, led lower by Boeing, which shed 2.5%, and Bank of America, which fell 2.4%. The Standard & Poor’s 500 stock index fell 14 points, or 1.1%, to 1302, led lower by financial stocks, which were hit by the debt worries. The Nasdaq Composite INdex slid 28 points, or 1%, to 2762.

Posted via email from RichC’s posterous


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