Tuesday, May 4, 2010

Alcoa (NYSE:AA), Sovereign Debt Crisis Pushes Dow Down

Alcoa (NYSE:AA) led Blue chips in a downward spiral as investors aren't convinced aluminum demand will increase this year, and the dangerous sovereign debt crisis in Europe threatens to spread.

Consequently the Dow dropped the worst it has in three months, falling 225.06 points, or 2 percent.

Other stocks getting hit hard were Cisco (Nasdaq:CSCO), which dropped 3.57 percent, and General Electric (NYSE:GE), which plunged 3.53 percent, and Intel, (Nasdaq:INTC), which ended the day down 3.01 percent.

The Dow Jones Industrial Average ended the session at 10,926.77 points.

Measured by percentage, the Nasdaq fell the worst, down 74.49, or 3 percent on the day. The S&P dropped 28.66 points, or 2.4 percent to 1,173.60.

1 comment:

Anonymous said...

This post is as incoherant and worthless as your last two:
It's obvious you are short AA and are trying your hand at a little fearmongering. I'm disappointed in the google staff for posting your garbage so prominantly on the AA board. I note all the ads on your page are google supplied. Shame on you both. Gus