Dow Closes Lower for 6th Straight Day

May 9, 2012 5:27pm

The Dow Jones Industrial Average closed down for a sixth consecutive day.  This is now the Dow’s longest losing streak since August last year.

Greece’s debt problem and its inability to form a coalition government have led to growing investor concern in the U.S. about that region’s economic instability. Greece’s elections on Sunday were inconclusive as neither of the country’s parties won enough votes to form a new government, necessitating a coalition government or new elections.

Meanwhile, as Spain tries to manage its own financial crisis, its government announced steps to take ownership of its country’s fourth largest bank, Bankia SA.

The Dow was down 97.03 points or 0.75 percent.  The NASDAQ and S&P closed lower as well.

Similarly, oil slid down for the sixth straight say, down another 20 cents to settle at  $96.81 in New York trading.

 

CLOSE

POINT CHANGE

% CHANGE

Dow

12,835.06

-97.03

-0.75%

Nasdaq

2,934.71

-11.56

-0.39%

S&P 500

1,354.58

-9.14

-0.67%

 

SHOWS:
You are using an outdated version of Internet Explorer. Please click here to upgrade your browser in order to comment.
blog comments powered by Disqus