What a difference a day makes. After the Dow Jones Industrial Average
Investors were concerned today with the health of Spanish banks -- in particular the country's third largest lender, Bankia, which is in need of a bailout. There were also renewed concerns about Greece's ability to remain in the eurozone. At home, investors were disappointed with a report that showed pending U.S. home sales declined.
Here's how all three of the major U.S. indices fared on the day:
Index |
Change |
Ending Value |
---|---|---|
Dow Jones Industrial Average | -160.83 [-1.28%] | 12,419.86 |
Nasdaq | -33.63 [-1.17%] | 2,837.36 |
S&P 500 | -19.10 [-1.43%] | 1,313.31 |
As for individual stocks, a whopping 29 of the 30 Dow components finished in the red. Alcoa
Bank of America
Outside the Dow, Facebook
Facebook continues to face some serious questions about its long-term prospects. Chief among them are the fact that the Internet advertising-based business model is a difficult one, and that the company has proved unable to make money off its significant mobile traffic. That's why we've created a new report, "Forget Facebook -- Here's the Tech IPO You Should Be Buying," which details a much better social-media stock that has a longer runway for growth than Facebook. The report won't be available forever, so get access today -- it's totally free.