Stocks Plunge After Brief Respite: Major Indexes Down 3% or More

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Stocks are testing new lows with all three major indexes down 3% or more, led by a 3.68% plunge in the tech-heavy Nasdaq Composite Index.

The Dow Jones Industrial Average is down more than 400 points, with Aloca Inc. ( AA ) leading decliners, down 6.94% on track for the biggest weekly drop in two years. The S&P 500 is down 3.7%. Banking stocks are also leading decliners on the S&P 500 after European indexes also posted sharp declines today on concerns over sovereign debt.

Commodities are moving in step with equities. Crude oil for September delivery is down $5.06 to $86.87 a barrel on the New York Mercantile Exchange. Gold is off $13.30 to $1653 an ounce. The United States Oil ( USO ) exchange traded fund is trading at $33.91, down $1.95, or 5.44%. The SPDR Gold Trust ( GLD ) exchange traded fund is at $160.67 down $0.82, or 0.51%.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

Copyright (C) 2014 MTNewswires.com. All rights reserved. Unauthorized reproduction is strictly prohibited.


This article appears in: Investing , Commodities

Referenced Stocks: AA , GLD , USO

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As of 8/29/2014, 04:04 PM

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