On Monday Dow Jones Industrial Average lost
1.34% or 162.87 points and closed at 12,021.39. 28 out 30 blue chip index companies experienced
losses. On the downside were Bank of America Corp. which plunged 4.7% and Intel
Corp. which gave up 4% after the company reduced its profit outlook for the 4th
quarter. Caterpillar declined by 2.84% and Alcoa Inc. dropped by 3.01%. Art Hogan, Lazard
Capital's strategist claims markets anticipate that improvements in Europe
will take time.