Stocks Slump on Worries About U.S. Broker, Europe

By: Associated Press
By: Associated Press

New York, NY (AP) - Stocks have ended October with steep losses.
Investors are worried about the collapse of the brokerage MF Global
and missing details in Europe's plan to contain the Greek debt

Despite the losses Monday, the S&P 500 index still had its best
month since December 1991.

Bank stocks fell after MF Global filed for bankruptcy. Last week
the company's debt was downgraded to junk on concerns about its
holdings of European debt.

The Dow Jones industrial average fell 276 points, or 2.3 percent, to close at 11,955.

The S&P 500 index fell 32, or 2.5 percent, to 1,253. The Nasdaq
fell 53, or 1.9 percent, to 2,684.

Five stocks fell for every one that rose on the New York Stock
Exchange. Volume was average at 4.2 billion shares.

(Copyright 2011 by The Associated Press. All Rights Reserved.)

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  • by dog Location: gone on Nov 1, 2011 at 06:37 AM
    The Bubble is about to Burst hold on to your wallet. Europe then the U.S. Bad economic policies are going to take us DOWN.
  • by Sacrificial Lamb Location: Crawfordville on Nov 1, 2011 at 05:37 AM
    If you invest in stocks or have a 401k that has a dozen or less funds that you can put it in, you are the financial lamb set up for slaughter. Las Vegas is a possibly a better bet, if not, at least you know up front your odds are not good. A 401k is nothing more than involuntary financiers for foreign companies and governments. A 401k should not loose money when Greece's govenment defaults on loan payments to the European banks. Wake up people, the 401k is wealth redistribution at its finest.
  • by Tom Location: madison on Oct 31, 2011 at 05:39 PM
    Jan 3, 2000: Dow Jones 10,900 Today 11,900. 0.75%/year Jan 3, 2000: Gold 288/oz. Today 1714/oz. 12%/year Jan 3, 2000: Silver 5.41/oz. Today 34.24/oz 24%/year Don't listen to your stock broker. Use your brain
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