Markets Tank: Wall Street Stocks Down More Than 2 Percent

Written by:
Aaron Goldstein
Published on:
May/20/2010
Wall Street

It was another nail biter on Wall Street today as stocks fell more than 2 percent. 

At press time 2 pm EST, stocks were at 10174.64 -269.73.

Investors were particularly antsy about the continuing European debt crisis and a gloomy jobs report.

The market was disappointed by a Labor Department report showing an unexpected increase in first-time unemployment claims. Meanwhile, the Conference Board said its index of leading economic indicators fell 0.1% in April, a move that could signal a slowdown in the U.S. economy's expansion.

"The market overall is in a downtrend. The trend has changed from a couple weeks ago when we finally peaked out," Todd Horwitz, a trader and chief strategist for the Adam Mesh Trading Group, told CNBC Thursday. "Volatility is increasing here in the market. There's a lot more fear versus the complacency we had back then."

Intrade.com betting exchange trading for period May 2010 appears below:

 

                                                                    Bid           Ask

Last

Vol

Chge

 

DJIA.MAY10.>9500

Dow Jones to close ON or ABOVE 9500 on 31 May 2010

82.0

86.0

85.0

287

-7.0

DJIA.MAY10.>9750

Dow Jones to close ON or ABOVE 9750 on 31 May 2010

73.7

77.7

75.0

310

-11.8

DJIA.MAY10.>10000

Dow Jones to close ON or ABOVE 10000 on 31 May 2010

58.6

62.1

63.0

449

-15.0

DJIA.MAY10.>10250

Dow Jones to close ON or ABOVE 10250 on 31 May 2010

44.2

45.0

47.9

455

-12.1

DJIA.MAY10.>10500

Dow Jones to close ON or ABOVE 10500 on 31 May 2010

30.3

33.8

32.0

378

-17.0

DJIA.MAY10.>10750

Dow Jones to close ON or ABOVE 10750 on 31 May 2010

17.9

21.9

19.9

245

-11.1

DJIA.MAY10.>11000

Dow Jones to close ON or ABOVE 11000 on 31 May 2010

9.9

13.0

14.4

347

-3.6

DJIA.MAY10.>11250

Dow Jones to close ON or ABOVE 11250 on 31 May 2010

1.0

5.2

7.8

144

0

                   

 

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