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NEW YORK - Wall Street closed the best month in 20 years with the imperfect. Failure ofcompanies trading at MF Global Holdings Ltd. and renewed concerns about Europe’s debt crisis hit financial stocks, thus making the Dow Jones slumped cs.
Quoted by Reuters on Tuesday (1/11/2011), the Dow Jones Industrial Average 276.10points, or fall 2.26 percent to 11955.01. Standard & Poor’s 500 Index fell 31.79 points, or 2.47 percent, to 1253.30. While the Nasdaq Composite Index dropped 52.74points, or 1.93 percent to 2684.41.
This attenuation indicates when the ”woes” European crisis is not over. Italian andSpanish bonds surged, pushing the European Central Bank to buy the debt. While theshares of European banks are under heavy selling pressure.
Known, a futures broker in the United States (USA), MF Global Holdings Ltd., whichmakes big bets on European debt, filed for bankruptcy protection so it became the biggest victim in the U.S. than the euro zone crisis. MF Global stock trading was halted.
This makes financial stocks fell sharply. Morgan Stanley shares fell 8.6 percent to USD17, 64. The condition was inversely related to the dissolution agreement was handling the crisis zone of Europe last week.
“We started the day with more questions about the European Union. Then came the problem MF Global, where bankruptcies were unknown,” said Managing Director ofSouthwest Securities, Mark Grant
