Go Finance Reporting in NEW YORK - The stock market is the United States (U.S.) closed at its lowest in a month. The weakening was due to increased worries market players will be weak economic data in global manufacturing.
Stock-based industries, energy and technology, or who has a close relationship with economic growth weakened. Where is the low performance of manufacturing industry in Germany and China gives investors a reason to exit the market.
Mining machinery manufacturer Caterpillar Inc. lost 2.3 percent to USD101, 89, while the industrial sector of the S & P index lost 1.4 percent and the S & P info-technology sector index decreased 1.5 percent.
The case of the euro zone debt crisis increased the anxiety of investors. Trade this stock reflects the negative combination of negative sentiment. "The combination of cooling global economy and increased risk of Europe," according to ING head of stock trading Paul Zemsky, as quoted by Reuters in New York.
Negative sentiment coming from Greece and Italy downgrades and the results of elections in Spain that raised concerns about the deepening of the euro zone debt problems. The euro reached its lowest level in two months against the U.S. currency.
In late trading on Monday (05/24/2011) local time, the Dow Jones Industrial fell 130.78 points, or 1.05 percent, to 12381.26. Standard & Poor's 500 lost 15.90 points, or 1.19 percent, to 1317.37. And the Nasdaq fell 44.42 points, or 1.58 percent to 2758.90. (GoFinance)
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