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Stocks Sharply Lower on EU Fears, Led by Techs
Posted By admin On July 23, 2012 @ 7:17 am In Money Watch | Comments Disabled
July 23, 2012
Stocks were down sharply across the board Monday, fueled by fears that Spain will need a full sovereign bailout and mounting worries that Greece may leave the euro.
The Dow Jones Industrial Average plunged almost 200 points, led by Alcoa [AA 8.11 -0.15 (-1.82%) ] and Microsoft [MSFT 29.125 -0.99 (-3.29%) ].
The S&P 500 and the Nasdaq also dropped sharply. The CBOE Volatility Index, widely considered the best gauge of fear in the market, surged almost 25 percent to trade near 20.
All 10 S&P sectors were firmly in negative territory, led by techs and materials.
The Dow, S&P 500 and Nasdaq are now lower for the month of July.
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