Independent, Fee-Only Financial Advisor

Independent, Fee-Only Financial Advisor

Tuesday, May 24, 2011

Tuesday

Stocks registered a third consecutive day of losses after manufacturing data combined with worries about Europe's debt-laden countries continued to weigh on investor sentiment. On the economic front, the Federal Reserve Bank of Richmond said manufacturing activity in the central Atlantic region is contracting this month after seven months of expansion. The service sector also slowed, but remained in expansion. Worries about Europe still lingered today. Moody's Investors Services warned that a Greek debt restructuring could affect the credit ratings of other European governments and could lead to rating downgrades for Greek banks. DJIA -25.05 Nasdaq -12.74 S&P 500 -1.09.