AUG 4 2011, 12:40 PM ET
Some stock slumps are mysterious. Today's isn't. The U.S. has a growth crisis. Europe has a debt crisis. And Japan is ... being Japan. Trying to find a healthy advanced economy these days is like searching for a needle in a haystack.
In another rocky day on Wall Street, the Dow Jones industrial average plunged more than 341 points on fears that the global economic recovery is stalling. According to CNN Money "All the three major indexes are down at least 8% from their recent July peak, nearing official 'correction' territory (losses of 10% or more from recent highs)." The losses coincided with slumps in European stocks: Britain's FTSE 100 fell 3 percent, Germany's DAX fell 3.1 percent and France's CAC 40 fell almost 2.5 percent. The drops is being attributed to new gloomy economic data. "Early Thursday, the latest reading on jobless claims showed a large number of Americans remain unemployed. But economic woes weren't contained just to the United States," reports CNN.
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The Dow Jones Industrial Average fell 333 points by noon, a drop of 3 percent.
All information on this website is for educational purposes only and is not intended to provide financial advise. Any statements about profits or income, expressed or implied, does not represent a guarantee. Your actual trading may result in losses as no trading system is guaranteed. You accept full responsibilities for your actions, trades, profit or loss, and agree to hold MinKL Invest harmless in any and all ways.
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