Equities Roundup: Stocks Trade Flat After Massive Sell-Off

Equities Editors Desk  |

Wall Street is relatively quiet today after yesterday's 3.5 percent drop as economic fundamentals take a backseat to volatile investor emotions. The decline may have been worse had institutional buyers not stepped in to provide a bottom. U.S. leaders, including President Barack Obama and U.S. Treasury Secretary Tim Geithner have been pressuring European officials to be more proactive in dealing with its debt crisis, minimizing any uncertainty regarding the financial fates of Greece and other troubled economies like Italy, Portugal, Ireland and Spain that could fall victim to a domino effect. The delay stems from reluctance by Germany's Chancellor Angela Merkel and French President Nicolas Sarkozy to spend their nations' taxpayer money to bailout or quarantine ailing Greece. While stocks may have taken a break from the downturn, commodities are not as lucky. Gold prices have dropped 3 percent today to under $1,700 an ounce and silver has been hammered by over 12 percent to $32 an ounce. Oil prices dipped below $80 on fears that demand will shrink.

DJIA: 10,707.53 (-0.25 percent)
S&P 500: 1,131.14 (+0.14 percent)
NASDAQ: 2,468.26 (+0.51 percent)
Russell 2000: 647.56 (+0.64 percent)

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