Stocks fell sharply, as energy and materials stocks were hit hard by a sell-off in oil futures a strong jump by the dollar. Led by Walt Disney, most of blue-chips posted losses. Intel gained 1.7% after the co. raised its quarterly dividend 16%. Yahoo slid more than 7% on investor concerns about the value of its China-based assets. Cisco turned lower after-hours on comments from the company about softness in its fourth quarter, while Symantec wavered between gains and losses on mixed financial results. Implied volatility spiked to the 16 level on investor concerns
Thursday, May 12, 2011
Tumbled on sell-off in commodities
Stocks fell sharply, as energy and materials stocks were hit hard by a sell-off in oil futures a strong jump by the dollar. Led by Walt Disney, most of blue-chips posted losses. Intel gained 1.7% after the co. raised its quarterly dividend 16%. Yahoo slid more than 7% on investor concerns about the value of its China-based assets. Cisco turned lower after-hours on comments from the company about softness in its fourth quarter, while Symantec wavered between gains and losses on mixed financial results. Implied volatility spiked to the 16 level on investor concerns
