Go Finance Reporting in NEW YORK - The stock market is the United States (U.S.), weakened by the effects of the death of Osama bin Laden that made investors stop the continuation of the strengthening of the stock index.
The death of bin Laden by U.S. forces is causing confusion in financial markets. Dow Jones also had weakened to 92 points from its highest position when the news broke.
"His death should not affect the market much. But market participants view the world seems to be moving better, and it affects the stock market," said investment adviser and portfolio manager of Cozad Asset Management, Bryant Evans, as quoted by Reuters in Champaign, Illinois.
Shares of energy and materials sectors are the sectors that weakened the most significant moves. Investors looking to sell on the shares. S & P energy index fell by 1.3 percent.
U.S. crude oil prices move lower following the death of al-Qaeda leaders, while the price of silver was also observed to fall after record highs recently. The stock market was also helped by the announcement of mergers and acquisitions, reflecting optimism about the long-term prospects.
At the close of trading on Monday (05/03/2011) local time, the Dow Jones Industrial fell 3.18 points, or 0.02 percent, to 12807.36. The broader Standard & Poor's 500 index dropped 2.39 points, or 0.18 percent to 1361.22. And the Nasdaq Composite Index fell 9.46 points, or 0.33 percent to 2864.08. (GoFinance)
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