“Stocks were diving into the close on heightened eurozone debt contagion fears,” Andrea Tse reports for TheStreet.
“The Dow Jones Industrial Average was down 160 points, or 1.3%, to 11,936,” Tse reports. “The Nasdaq was off 39 points, or 1.5%, at 2,647. The S&P 500 was last down 18 points, or 1.5%, at 1240. ‘Stocks are selling off suddenly on Fitch saying that US Bank ratings are threatened by eurozone contagion,’ said Marc Pado, U.S. market strategist with Cantor Fitzgerald. This is ‘causing this spike lower.'”
Tse reports, “On Wednesday, oil prices climbed back above $100 a barrel for the first time since early June. The December crude oil contract gained $3.22 to finish at $102.59 a barrel.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]