U.S. Stock Markets Fall Sharply In Early Trading
Filed by KOSU News in US News.
August 10, 2011
U.S. stocks stumbled out of the gate Wednesday, falling more than 300 points in the first few minutes of trading.
Update at 10:27 a.m. ET: The decline has continued, as the Dow Jones industrial average has fallen 413 points, or 3.7 percent. On the bright side, Reuters has just reported that U.S. wholesale inventories saw only a small rise in June, a result of a rebound in sales. Our original post continues:
The sharp drop came despite a rally that buoyed U.S. indexes Tuesday, and rallies from the European and Asian markets Wednesday. Global investors seemed to take heart in the Federal Reserve’s pledge to maintain low interest rates and stabilize the U.S. economy.
Analysts say that U.S. investors’ confidence remains fragile, as the economy continues to lack momentum. [Copyright 2011 National Public Radio]