Dow Dives 317 Factors, Erasing Per month Of Gains

Updated at four:20 p.m. ET. The Dow Jones industrial normal dropped much more than 317 factors nowadays Eli Manning Jersey , closing at 16,563, wiping out the index’s gains with the thirty day period of July. The Nasdaq fell 93 points, closing at 4,369. The Standard & Poor’s 500 fell 2 percent to 1,930. It was the worst daily decline since April and the first monthly drop since January. The A sociated Pre s reports investors “responded to several weak earnings reports, escalating geopolitical instability and widespread views that stocks had become too expensive. They are also contemplating the likely end of the Federal Reserve’ Golden Tate III Jersey s stimulus program this year.” USA Now says: “With the lo ses, a five-month string of Dow and S&P 500 Index gains will end with July’s last trading se sion.” According to Fortune:”Contributing to the market’s retreat: news late Wednesday that Argentina’s credit rating has been downgraded to selective default by Standard & Poor’s. The country’s second default in 13 years sent its Merval stock index plummeting Thursday afternoon. “There are also lingering questions over how the latest round of sanctions on Ru sia i sued by the U.S. and Europe will affect the global economy, including the energy markets. Exxon Mobil XOM, which has Lawrence Taylor Jersey a multi-billion dollar partnership with Ru sian company Rosneft, saw its stock drop 4% on Thursday.”