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New York - Stocks Finish With Losses As Investors Worry About economic Recovery |
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Published on:
Jun 15, 2009 at 03:05 PM
News Source: CNBC
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Stocks tumbled Monday as a key manufacturing gauge came in weaker than expected and the dollar made a comeback.
Major indexes were down more than 2 percent, with the Nasdaq the hardest hit of the three, down nearly 3 percent.
Wall Street had an impressive roll heading into the new week: The Nasdaq has chalked up weekly gains in 13 of the past 14 weeks, while the Dow and the S&P 500 had risen in 12 of the past 14 weeks. All three indexes were positive for the year as of Friday's close and the Dow and S&P were on track for their best quarterly gains since the fourth quarter of 1998.
But weak economic data and the strong dollar threw water on the rally.
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Read Comments (7) — Post Yours »
1
Jun 15, 2009 at 03:49 PM Anonymous Says:
Gas prices have gone up since Obama became president and the fact that we have to pay more taxes and higher taxes means that gas prices will continue to go up.
2
Jun 15, 2009 at 03:51 PM Anonymous Says:
why is gas going up when we are in a recession?
3
Jun 15, 2009 at 07:50 PM Anonymous Says:
“ why is gas going up when we are in a recession? ”
Because commodities are traded on the market which trades in the future. So if Wall st believes that the recession is coming to an end, that means demand for oil will go up as well. Therefore, they're willing to pay more for oil, which in turn raises the prices of oil.
4
Jun 15, 2009 at 07:48 PM Anonymous Says:
“ Gas prices have gone up since Obama became president and the fact that we have to pay more taxes and higher taxes means that gas prices will continue to go up. ”
It was at $147/bbl when Bush was president. Remember?
5
Jun 15, 2009 at 08:25 PM Anonymous Says:
I'm confused as to why you are posting this article.
Are you somehow surprised that the market has a down day after an unprecedented 3-month rally that has seen the Dow rise by over 30 percent?
6
Jun 15, 2009 at 08:30 PM Anonymous Says:
It will go higher by this president with no reason by bush they had a reason what's the reason now
7
Jun 15, 2009 at 09:35 PM Anonymous Says:
“ It will go higher by this president with no reason by bush they had a reason what's the reason now ”
11 trillion dollar deficit over the next 10 years you partisan bozo