Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Monday, June 07, 2010

Monday

Stocks fell to end below their "flash crash" lows, hurt by worries about U.S. consumer spending and European credit. The Dow Jones Industrial Average's close marked a 7-month low for the average and a dip below the trough of 9869.62 on May 6, when a sudden computer-generated wave of selling hit. A lot of today's loss came after the Federal Reserve released data painting a mixed picture of consumer borrowing in the U.S. The report suggested that Americans aren't too comfortable with their finances despite the budding economic recovery. In other markets, the dollar strengthened against the euro and the pound but weakened against the yen. DJIA -115.48 Nasdaq -45.27 S&P 500 -14.41.