Dow slumps on Eurozone's concerns

Source: Dukascopy Bank SA
Dow plunged as weak US factory orders data spurred profit taking after previous rally. Market sentiment was further dampened by political instability in Spain. Spain's PM Mariano Rajoy faced allegations of corruption amid calls for resignation from opposition Socialist Party. Meanwhile, market players remained cautious ahead of the ECB press conference due on Thursday. The Dow Jones Industrial Average Index dived 0.93% to close below 14,000 at 13,880.08. Only one company out of 30 included in the index managed to post mild gain. Boeing climbed 0.45%. Meanwhile, financials and consumer services dropped the most. Travelers Cos and Bank of America slid 2.37% and 1.96%, while Wal-Mart Stores dipped 1.22%. Wal-Mart Stores slumped after J.P. Morgan lowered the firm's share rating to neutral from outperform. Merck & Co also finished in the red territory, down 2.34%, after Leerink Swann downgraded the shares to neutral from outperform, citing a 7.3% drop in Merck's quarterly earnings.
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Tue, 05 Feb 2013 14:32:03 GMT

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Tue, 05 Feb 2013 13:38:04 GMT

US stocks plunged after factory orders data

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