Contact Us
Make My Homepage

Stocks Plunge On Global Economic Concerns [AUDIO]

Stock markets saw their worst declines of 2012 Tuesday around Global economic fears.

Andrew Burton, Getty Images

The Dow lost 204 points. The NASDAQ was down 40 and the S and P dropped 21. The only member of the Dow club finishing higher Tuesday was Intel, it managed a gain of 7 cents.

The sell-off centered around concerns for Greece, which faces a Thursday deadline to get private investors to agree to terms of its bailout. And the Euro news…which also saw European stock markets drop, followed China’s pronouncement Monday of slower projected economic growth this year.

Chris Cordaro of Regent Atlantc Capital in Morristown says, “we live in a Global economy, so, if any part of the world economy slows down, it affects everyone else.”

There are also some underlying fears markets have been somewhat overheated since the start of this year.

Last year, sell-offs like this were much more common. The S and P fell by at least 1 percent on 48 trading days, roughly one in every five. During the depths of the financial crisis in the last four months of 2008, it happened roughly one in every three days.

Yields on U.S. government debt also fell as investors moved their money into what they perceive to be a safer asset. The yield on the benchmark 10-year Treasury note fell to 1.96 percent from 2.01 percent late Monday. Bond yields fall when their prices rise.

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

 

Best of the Web


Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://nj1015.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!