Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Monday, November 22, 2010

Monday

Blue-chip stocks declined today, led by financials, as the market cringed over new details of widespread insider-trading investigations and Ireland's debt woes. Although the Dow closed in the red, it managed to regain most of its 100-point loss from earlier in the trading session. Leading the Dow's declines were Bank of America, down 3.1%, and J.P. Morgan Chase, which slid 2.3%. The market's early tumble came after Ireland over the weekend agreed to accept a bailout. Adding fuel to the fire, fresh worries over the financial sector arose when the Wall Street Journal reported that FBI agents raided the offices of three hedge funds amid a far-reaching insider-trading investigation. DJIA -24.97 Nasdaq +13.90 S&P 500 -1.89.