Everyone's blaming continuing problems in Europe for today's big drop in the Dow Jones Industrials (INDEX: ^DJI ) , which were down more than 150 points just before 10:45 a.m. EDT. European markets were down around 1% as they entered their final hours of trading for the day, and both gold and oil saw further declines as well, as the risk-off trade has apparently taken hold. Only bonds managed gains, with the 10-year Treasury yield (INDEX: ^TNX ) falling to just above 1.8%.
One of the only bright spots in the Dow today was Disney (NYSE: DIS ) , which rose more than 1% after a strong earnings report. Despite the failure of its John Carter movie, strength in its network holdings and record results from The Avengers -- the latest release from the company's pickup of Marvel Studios in 2009 -- helped boost the company's prospects and bode well for its future.
JPMorgan Chase (NYSE: JPM ) was a big loser, falling nearly 3%. The company said that it intends to sell prepaid debit cards in its branches beginning this summer, as the bank tries to navigate fee regulations on traditional debit cards while maintaining its profits. JPMorgan Chase notes that some customers will pay less with a prepaid card than they do for checking accounts with minimum-balance charges and overdraft fees. Nevertheless, critics see the move as part of a larger trend toward boosting fee income.
Finally, Bank of America (NYSE: BAC ) was down less than 1% as protesters demonstrated outside the company's annual shareholder meeting in Charlotte. On the agenda is a vote on pay for CEO Brian Moynihan. The protest is the latest in a series of demonstrations targeting big banks.
Looking for bargains
After big drops in the market, the best thing to do is to try to identify stocks that would make great buys at lower prices. We've got some ideas for you to look at in the Motley Fool's special report on long-term investing, where you'll find three promising stocks you can own for the long haul. Click here to get your free report today!