Dow closes below 10,000
The Dow Jones industrial average closed below 10,000 for the first time in three months Monday on nagging concerns about debt loads in Europe. The Dow, down almost 104 points, had its 10th triple-digit move in 16 trading days. Shares of big banks pulled the market lower, extending a slump that has led to four straight weekly losses.
NEW YORK (AP) — The Dow Jones industrial average closed below 10,000 for the first time in three months Monday on nagging concerns about debt loads in Europe.
The Dow, down almost 104 points, had its 10th triple-digit move in 16 trading days. Shares of big banks pulled the market lower, extending a slump that has led to four straight weekly losses.
The Dow fell 103.84, or 1 percent, to 9,908.39. On Thursday, the Dow traded below the psychological barrier of 10,000 for the first time since November. It hadn’t closed below that mark since Nov. 4. and first closed above 10,000 in March 1999. The Dow is still up 51.3 percent since last March.
The broader Standard & Poor’s 500 index fell 9.45, or 0.9 percent, to 1,056.74, while the Nasdaq composite index fell 15.07, or 0.7 percent, to 2,126.05.
The dollar fell against other major currencies, while gold rose.
Crude oil rose 70 cents to settle at $71.89 per barrel on the New York Mercantile Exchange.
Tags: us business, standard and poor, business, dow, nasdaq, stock, market, mercantile, exchange, nymex, crude
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