Stocks gave up more than 1%, as investors continued to fret over how Europe could solve its debt troubles in 2012. Concerns about Italy’s next auction of government debt also weighed on the market. Among the laggards, Morgan Stanley dropped 2.6% after the co. had alerted the NY Department of Labor that 580 of its 1,600 layoffs would impact the New York City area. Tech stocks also slipped, led by slumping Cisco Systems and Netflix. Cisco fell 2.3%, while Netflix sank 2% after following the report that Netflix’s customer satisfaction score fell as a result of the company’s “well publicized blunders.” Morgan Stanley pared losses slightly rising 0.3% in after-hours activity on moderate volume. Implied volatility inched higher on modest trading volumes.
Thursday, December 29, 2011
Closed in the red on concers over Italy's bond auction
Stocks gave up more than 1%, as investors continued to fret over how Europe could solve its debt troubles in 2012. Concerns about Italy’s next auction of government debt also weighed on the market. Among the laggards, Morgan Stanley dropped 2.6% after the co. had alerted the NY Department of Labor that 580 of its 1,600 layoffs would impact the New York City area. Tech stocks also slipped, led by slumping Cisco Systems and Netflix. Cisco fell 2.3%, while Netflix sank 2% after following the report that Netflix’s customer satisfaction score fell as a result of the company’s “well publicized blunders.” Morgan Stanley pared losses slightly rising 0.3% in after-hours activity on moderate volume. Implied volatility inched higher on modest trading volumes.
