Stocks dropped sharply in Tuesday's session after missed earnings
from major blue chip firms were announced. Missed earnings from
Countrywide Financial also contributed to the widespread selloff
as ongoing fears over the subprime meltdown reaches new levels.
Crude oil futures for August delivery fell
1.7% to $73.64 a barrel on rumors that U.S. refineries are
increasing their fuel production. Gold futures for
August delivery rose fractionally to $684.90 an ounce after the US
dollar continued its slide. To read today's futures market recap,
click here.
Around Europe, Germany's DAX index fell 1.7% to 7,806.79,
France's CAC 40 index lost 1.7% to 5,907.47, and Britain's FTSE
100 dropped 1.9% to 6,498.70.
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Market Snapshot |
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Volume |
3,937,531,000 |
2,420,118,000 |
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Strongest/Weakest Sectors |
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Strongest Sectors |
Weakest Sectors |
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Airline Index (XAL) |
Natural Gas Index (XNG) |
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S&P Healthcare Index (HCX) |
Deutsche Bank
Energy Index (DXE) |
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S&P Retail Index (RLX) |
Securities Broker/Dealer Index (XBD) |
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Economic
News |
| No economic reports released
today. |
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com
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