Thursday, August 2, 2012

Dow Jones Update

Dow Jones Opened 100 point down. Does it trigger short term global sell off??

US stocks opened lower on Thursday following disappointing comments from Mario Draghi, the president of the European Central Bank.

At a press conference, Draghi said the ECB would draw up a mechanism in the coming weeks to make outright purchases to stabilize stressed euro zone borrowing costs. The statement disappointed investors who had been hoping for strong action following his recent comments to "do whatever it takes" to save the euro.

The Dow Jones industrial average was down 56.99 points, or 0.44%, at 12,914.07. The Standard & Poor's 500 Index was down 7.82 points, or 0.57%, at 1,367.32. The Nasdaq Composite Index was down 22.99 points, or 0.79%, at 2,897.22.

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