Quick Recap of Tuesday’s Session:
Stocks got crushed on Tuesday as the S&P 500 suffered its worst day in 3 months. Major indices started the day mostly higher and rallied in early trading following some better than expected economic data here in the U.S. However, stocks would sell off hard around 12:30pm EST and proceed to swiftly drop for the remaining duration of the session. The only catalyst to the heavy selling seemed to be protests / riots in Spain over austerity measures. Comments from Philly Fed’s Plosser slamming QE3 could have also contributed. Big names like Apple (AAPL) and Google (GOOG) were hammered in the last hour and a half of trading. The S&P 500 finished at the lows of the day, 22 points off of its intraday high.
S&P 500 -1.05%, NASDAQ -1.36%, DJIA -0.75%, Midcaps -1.56%.
Looking Ahead to Wednesday:
S&P 500 - Intraday
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S&P 500 - Last 12 Months