Stock Market Decline is Muted, Despite Bank Slump

By: Associated Press
By: Associated Press

New York, NY (AP) - Stocks closed lower after JPMorgan's surprise $2 billion trading loss.

JPMorgan shares dropped more than 9 percent, pulling down other financial stocks with them. Most of the decline in the Dow Jones industrial average was because of JPMorgan.

The Dow Jones industrial average fell 34 points to close at 12,820. The Standard & Poor's 500 index fell almost five points to 1,353. The Nasdaq composite index, which is heavily weighted with technology stocks, was up a fraction of a point at 2,934.

Declining stocks outnumbered advancers almost 3-to-2.

Financial stocks fell more than 1 percent. JPMorgan admitted to losing $2 billion in trades that it says were poorly thought out.

Tech shares were mixed. Intel rose 1.4 percent after it said it's on track to meet sales expectations.


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  • by Gerry on May 14, 2012 at 04:32 AM
    Lol!!!
  • by Gerry on May 12, 2012 at 06:27 PM
    As of 17:00 ET,(DAYLIGHT OR STANDARD?) May 10,(WHAT YEAR?) the US borrows for 10 years at 1.87% (APR, YEARLY OR FOR THE LIFE?). Total US national debt on 5/9/12 (WHAT TIME?)= $15.674 trillion. On 1/20/09 = $10.627 trillion. On 1/20/01 = $5.728 trillion. Increase in total national debt during Obama's administration = $5.047 trillion. During George W. Bush's administration = $4.899 trillion. Source for debt info = treasurydirect.gov. Greece borrows for 10 years at 24.07%, Portugal at 11.12%, Spain at 5.99%%, Italy at 5.69%. The 4 countries just named do not each have their own individual national currency, but rather all use the euro. Greece had an election over the weekend, and since then the cost of the government borrowing for 10 years has risen, 3.33%, i.e., more than a full per cent more than the US pays to borrow for 10 years. (WHAT ABOUT FRANCE AND THEIR SOCIALISTIC NEW LEADER AND THEIR DEBT AND INTEREST?)
  • by Gerry on May 12, 2012 at 04:42 AM
    Darn it..
    • reply
      by Gerry on May 12, 2012 at 06:41 PM in reply to Gerry
      I'm taking my scissors and glue and calling mommy
      • reply
        by Anonymous on May 13, 2012 at 06:43 AM in reply to Gerry
        Go ahead! She doesn't like you either!
  • by gerry on May 12, 2012 at 03:45 AM
    Will the real Gerry please stand up, please stand up...
  • by gerry on May 12, 2012 at 03:45 AM
    Will the real Gerry please stand up, please stand up...
    • reply
      by Gerry on May 12, 2012 at 06:28 PM in reply to gerry
      YOU MADE TWO POSTS IN A ROW BECAUSE THEY HAVE THE SAME TIME!!!!!!!!!!!!!!!!!!!!!!!!!!
  • by Anonymous on May 11, 2012 at 02:56 PM
    IN!
  • by Anonymous on May 11, 2012 at 02:14 PM
    As of 17:00 ET, May 11, the US borrows for 10 years at 1.84%. Total US national debt on 5/10/12 = $15.675 trillion. On 1/20/09 = $10.627 trillion. On 1/20/01 = $5.728 trillion. Increase in total national debt during Obama's administration = $5.048 trillion. During George W. Bush's administration = $4.899 trillion. Source for debt info = treasurydirect.gov. Going into the weekend, Greece borrows for 10 years at 24.54%, Portugal at 11.03%, Spain at 6.02%, Italy at 5.68%. The 4 countries just named do not each have their own individual national currency, but rather all use the euro. Greece had an election last weekend, and since then the cost of the government borrowing for 10 years has RISEN, 3.80%, i.e., more than twice as much as the US pays to borrow for 10 years.
    • reply
      by Fake Gerry on May 12, 2012 at 05:27 AM in reply to
      fake anonymous you have no credibility
  • by Gerry on May 11, 2012 at 01:57 PM
    As of 17:00 ET, May 10, the US borrows for 10 years at 1.87%. Total US national debt on 5/9/12 = $15.674 trillion. On 1/20/09 = $10.627 trillion. On 1/20/01 = $5.728 trillion. Increase in total national debt during Obama's administration = $5.047 trillion. During George W. Bush's administration = $4.899 trillion. Source for debt info = treasurydirect.gov. Greece borrows for 10 years at 24.07%, Portugal at 11.12%, Spain at 5.99%%, Italy at 5.69%. The 4 countries just named do not each have their own individual national currency, but rather all use the euro. Greece had an election over the weekend, and since then the cost of the government borrowing for 10 years has risen, 3.33%, i.e., more than a full per cent more than the US pays to borrow for 10 years.
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