Intuitive fred888: Wall Street Tries to Steady After Two-Day Selloff

Friday, June 21, 2013

Wall Street Tries to Steady After Two-Day Selloff

Traders work on the floor at the New York Stock Exchange

Wall Street Tries to Steady After Two-Day Selloff ReutersStocks were mixed Friday, with the week likely to end in the red after a selloff triggered by concern over the future of central bank stimulus rocked world markets.

Turmoil Exposes Global Risks
Is the drop in financial markets an overreaction?
Dow, S&P turn flat; Nasdaq at session lows
Reuters – 22 minutes ago
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- View PhotoTraders work on the floor at the New York Stock Exchange, June 20, 2013. REUTERS/Brendan McDermid
NEW YORK (Reuters) - The Dow and S&P 500 turned flat on Friday, erasing earlier gains while the Nasdaq dropped to a session low, pressured by Oracle Corp (ORCL.O).
Financials were among the weakest shares of the day, with Citigroup Inc (C.N) down 4.1 percent to $45.88 and Bank of America (BAC.N) down 3.7 percent at $12.41.
The Dow Jones industrial average (.DJI) was up 12.19 points, or 0.08 percent, at 14,770.51. The Standard & Poor's 500 Index (.SPX) was up 0.44 points, or 0.03 percent, at 1,588.63. The Nasdaq Composite Index (.IXIC) was down 13.49 points, or 0.40 percent, at 3,351.15.
(Reporting by Ryan Vlastelica; Editing by Bernadette Baum)
end quote from:
http://finance.yahoo.com/news/wall-st-plunges-p-posts-004828780.html

The last two days likely has been an overreaction and you will see some buying at these lower prices. Obviously, some people are pretty skittish around the world and can't afford to be in the market when it starts to drop like this. So, even though buyers likely will get in for a day or two it is unknown what will happen in the long run.