This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Dow Dives 268 Points, Flops Around 10,000

NEW YORK ( TheStreet) -- Stocks nosedived and closed near their lows Thursday, pressured by global debt fears and labor market uncertainty ahead of Friday's government jobs report.

The Dow Jones Industrial Average plunged 268 points, or 2.6%, to 10,002. The S&P 500 lost 34 points, or 3.1%, to 1063 and the Nasdaq stumbled by 65 points, or 3%, at 2125.

The blue-chip average experienced its biggest one-day point drop since last April and hit an intraday low just under 10,000 a few seconds before the close.

Fears about how struggling Portugal, Spain and several Eastern European countries will cover deficits weighed on global markets, lifting the U.S. dollar, which strengthened against a basket of currencies. The dollar index rose 0.6%.

>>Five Mid-Cap Stocks Ready to Break Out

Prices on commodities and related stocks nose-dived as a stronger greenback on sovereign debt fears diminished the appeal of dollar-priced assets to foreign buyers.

The most actively traded April gold contract shed $49 to settle at $1,063 an ounce.

Crude oil for March delivery settled at $73.14 a barrel, plunging $3.84 a day after EIA inventory data surprised with both a build of 2.3 million barrels in crude oil when a million-barrel decline was expected and a steeper-than-expected drop in gasoline stocks, which shed 1.3 million barrels.

The March natural gas contract shed a fraction of a penny to $5.42 per million British thermal units after the Energy Information Administration reported a storage withdrawal of 115 billion cubic feet for the week ended Jan. 29. Analysts polled by Platts had been expecting a withdrawal in the range of 121 billion to 125 billion cubic feet.

Prices on U.S. Treasuries lifted across the maturity spectrum as investors sought safety from riskier assets. The short-dated two-year note strengthened 5/32, weakening yields to 0.804%, and the benchmark 10-year note gained 27/32, lowering the yield to 3.602%. The 30-year bond rose 1 16/32, diluting the yield to 4.544%.

1 of 4

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
SUN $47.96 0.00%
CNW $41.35 0.00%
CI $133.91 0.00%
CSCO $28.95 0.00%
MA $91.89 0.00%

Markets

DOW 18,041.54 -190.48 -1.04%
S&P 500 2,104.20 -21.86 -1.03%
NASDAQ 5,032.7510 -56.6110 -1.11%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs