As many investors feared, stocks pulled back sharply today, posting their first triple-digit drop and worst one-day performance this year. With bullish momentum undeniably being a dominant force on Wall Street since the new year, such a steep correction was perhaps expected as equities have had quite a run higher over the past month. In economic news, however, investors welcomed somewhat positive data from the Commerce Department, who reported orders for manufactured goods to have risen 1.8% in December, just shy of the 2.2% expectation. Meanwhile, a slew of stock-rating downgrades put selling pressures on trio of blue-chip heavyweights; Merck, (MRK), Wal-Mart (WMT), and Chevron (CVX) shares dropped after analysts cut stock recommendations [Be sure to check out the real estate news, trends, tips and tricks over at Dividend.com]. Global Market Overview: Stocks Post Worst One-Day Drop In 2013 The Dow Jones Industrial Average ETF logged in a 0.84% loss, with its underlying index dropping nearly [...] Click here to read the original article on ETFdb.com. Related Posts: Daily ETF Roundup: Stocks Pull Back On Fed And Lackluster GDP Daily ETF Roundup: Excitement Simmers On Mixed News Daily ETF Roundup: Bargain Shopping Euphoria Sparks Rally Daily ETF Roundup: Another Day, Another Sell-Off Daily ETF Roundup: Bulls Return On Encouraging Labor Data
As many investors feared, stocks pulled back sharply today, posting their first triple-digit drop and worst one-day performance this year. With bullish momentum undeniably being a dominant force on Wall Street since the new year, such a steep correction was perhaps expected as equities have had quite a run higher over the past month. In economic news, however, investors welcomed somewhat positive data from the Commerce Department, who reported orders for manufactured goods to have risen 1.8% in December, just shy of the 2.2% expectation. Meanwhile, a slew of stock-rating downgrades put selling pressures on trio of blue-chip heavyweights; Merck, (MRK), Wal-Mart (WMT), and Chevron (CVX) shares dropped after analysts cut stock recommendations [Be sure to check out the real estate news, trends, tips and tricks over at Dividend.com]. Global Market Overview: Stocks Post Worst One-Day Drop In 2013 The Dow Jones Industrial Average ETF logged in a 0.84% loss, with its underlying index dropping nearly [...]
Click here to read the original article on ETFdb.com.
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