Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Monday, May 23, 2011

Monday

U.S. stocks plummeted as investors' concerns over the financial health of European governments triggered a flight to safer assets. The Dow Jones Industrial Average dropped 1.1%, with all but one component, McDonald's, in the red. Technology and energy stocks led the Standard & Poor's to slump 1.2%. The technology-oriented Nasdaq lost 1.6%. In the absence of major U.S. earnings reports or economic data, investors focused on negative headlines from Europe, including a Standard & Poor's outlook cut on Italian debt and regional election losses for Spain's ruling Socialist party. DJIA -130.78 Nasdaq -44.42 S&P 500 -15.90.