Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Tuesday, May 04, 2010

Tuesday

The stock market suffered its worst drop in three months today as worries spread about Europe's financial stability. The Dow Jones Industrial Average saw its worst decline in both point and percentage terms since February 4th of this year. The decline also represented the Dow's fourth straight triple-digit point move, emphasizing that volatility is returning after a long stretch of trading that had been defined by modest daily moves and light volume. The Nasdaq Composite took the biggest hit of the major indexes, dropping 3%, as Apple and Google, its two most high-profile bellwethers, struggled. In other markets, the euro neared a 12 month low today as it declined to $1.3001. The currency has lost more than 11% of its value against the greenback since the start of the Greek credit crisis in November. DJIA -225.06 Nasdaq -74.49 S&P 500 -28.66.