Yesterday, the Federal Reserve stood firm on its commitment to stay with the status quo while closely monitoring the U.S. economy. Today, the European Central Bank followed suit, leaving the benchmark interest rate at an already record low of 0.75%. While ECB President Mario Draghi is still behind his comment to do whatever is needed to keep the eurozone together, little can be accomplished if the debt-ridden countries don't have faith in the ECB's ability to stanch the crisis.
In Europe, investors fled from high-risk countries and moved into the safety of the German and Dutch debt markets. Spain's 10-year bond yield crossed north of the 7% line of demarcation, while the German 10-year yield scaled down to 1.22%. Domestically, the broad markets lowered after the ECB press conference this morning, as did both WTI and Brent crude futures.
Dow Jones Industrial Average
Source: Yahoo! Finance as of 2:30 p.m. EDT.
Joel South owns shares of no company listed above. The Motley Fool has a disclosure policy.
We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. Try any of our Foolish newsletter services free for 30 days.
More from The Motley Fool
Why the Dogs of the Dow Look Doomed for 2017
The stocks that this popular strategy chose will produce gains, but they probably won't be big enough to beat the Dow overall.
The Dow Jones Industrial Average Is a Joke of an Index, and Here's the Data to Prove It
The Dow has so many flaws, it's practically unusable as a tracking index.
These 3 Stocks Might as Well Not Even Be in the Dow Jones Industrials
Find out why these huge companies have almost no influence on the average.