Saturday, May 29, 2010

Market Approaches World War II Declines

Just over one month after the Dow Jones Industrial Average hit the year’s high on April 26, it closed May with the worst decline since 1940, reports the Wall Street Journal. The Dow is “in negative territory for the week, the month and the year.” May started poorly with the “Flash Crash” that saw a 1,000-point slide less than one week into the month. The month dropped a total of 871.98 points. Friday’s sudden drop of 122.36 points came after noon when the Fitch ratings firm downgraded Spain, which was just the most recent crisis in Europe.

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Nick Sorrentino is the Editor of The Liberty and Economics Review and CEO of Exelorix.com a social media management company.