This Day On The Street
Continue to site
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

Stocks Fall for Fifth Straight Session

NEW YORK ( TheStreet) -- Stocks sustained deep losses Tuesday with eurozone worries once again front and center amid growing trepidation about Spain's economic stability.

All three major U.S. equity indices lost ground for a fifth straight trading session. Sentiment took an abrupt turn for the worse after European stock markets finished with sharp drops. Traditional safe havens drew buyers with bonds and gold on the rise.

The Dow Jones Industrial Average dropped 214 points, or 1.7%, to close at 12,716. The S&P 500 fell 24 points, or 1.7% to close at 1359. The Nasdaq plunged 56 points, or 1.8%, at 2991, surrendering the 3000 level for the first time since March 13.

The 10-year Treasury bond rose 18/32, pushing the yield down to 1.98%, its first trip below 2% since March 12.

Breadth within the Dow was extremely negative with only one of of the index's 30 components -- Hewlett Packard (HPQ) --finishing higher.

Alcoa (AA - Get Report) was among the biggest blue-chip laggards, down 2.9%. The aluminum company reported a surprise first-quarter profit after the bell, and its stock caught a bounce in after-hours trading.

Profits came in at 10 cents per share on revenues of $6 billion on improved productivity and market conditions. Alcoa was expected to post a loss of 4 cents a share on revenue of $5.77 billion. Shares were rebounding 4% in the extended session.

Bank of America (BAC - Get Report) saw the largest drop among the blue chips on Tuesday, falling more than 4%.

Caterpillar (CAT), Walt Disney (DIS), Boeing (BA), General Electric (GE), Home Depot (HD) and Microsoft (MSFT) all shed more than 2%.

On the New York Stock Exchange, decliners outnumbered advancers by more than 6-to-1 ratio, while the Nasdaq exchange had five losers for every gainer. The VIX, known as Wall Street's fear gauge, was up more than 8% at 20.39, breaking above the 20 level, which is seen as indicative of rising fear, for the first time since March 7. The index measures the implied volatility of options activity in the S&P 500.

The weakness extended losses on Monday in the wake of Friday's disappointing jobs report. The Dow posted its first finish below 13,000 since March 12 after the government announced that nonfarm payrolls increased 120,000 in March, far short of the consensus view for a 200,000 gain.
1 of 3

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AA $7.68 4.80%
BAC $11.98 7.30%
AAPL $94.14 0.47%
FB $102.02 0.11%
GOOG $684.01 0.13%


Chart of I:DJI
DOW 15,962.17 +301.99 1.93%
S&P 500 1,860.09 +31.01 1.70%
NASDAQ 4,330.8240 +63.9870 1.50%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs