JUNE 11, 2011
Stocks Swoon, Worry Rises
Dow's Sixth Straight Down Week Fuels Concern Over More Severe Declines Ahead
By E.S. BROWNING, wsj.com
Friday's stock market plunge knocked the Dow Jones Industrial Average below 12000 for the first time since March, sending the index to its sixth consecutive weekly decline, its longest losing streak since 2002.
The blue-chip swoon, which pushed the average down 172.45 points, or 1.4%, to 11951.91, was fueled Friday by fears of continuing U.S. economic weakness, as well as growing signs that Greece will prove unable to repay its debts and worries about slowing Asian growth. The Nasdaq Composite Index, which has been buoyed by technology shares, shows a small decline for the year.
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But if past investor behavior is a guide, the market could be in for a more severe decline unless the current worries are quickly resolved. Just a year ago, investors reacted much more powerfully amid the same cocktail of worries about global growth, European debt and the sluggish U.S. economy. They knocked the Dow down nearly 14% from late April through early July.
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Full story: http://online.wsj.com/article/SB10001424052702304259304576377970959834268.html?mod=WSJ_hp_LEFTTopStories
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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