Stocks slipped as anxiety was high ahead of a crucial summit aimed at resolving the European debt crisis. The sell-off accelerated in the last 20 minutes of trading. In fact, investors ignored another round of positive US job numbers released Thursday morning. Investors also shrugged off news that the European Central Bank cut its key interest rate by a quarter-percentage point Thursday morning. We expect even more volatility today as bearish sentiment prevails. The dollar gained strength against the euro.
Friday, December 9, 2011
Sinking on EU worries
Stocks slipped as anxiety was high ahead of a crucial summit aimed at resolving the European debt crisis. The sell-off accelerated in the last 20 minutes of trading. In fact, investors ignored another round of positive US job numbers released Thursday morning. Investors also shrugged off news that the European Central Bank cut its key interest rate by a quarter-percentage point Thursday morning. We expect even more volatility today as bearish sentiment prevails. The dollar gained strength against the euro.
