Dow -164.50 at 12093.70, Nasdaq -27.71 at 2771.03, S&P -16.72 at 1314.25

Market news

4 March 2011

Dow -164.50 at 12093.70, Nasdaq -27.71 at 2771.03, S&P -16.72 at 1314.25

Steady selling pressure has taken the stock market to a new session low. The downturn has not yet undone the prior session's surge, though.
Although weakness is widespread, financials (-1.6%) are driving the downturn.
Precious metals remain strong as some seek their safety. Gold continues to trade with a 1% gain at $1431 per ounce and silver continues to trade with a 2.7% gain at $35.23 per ounce.

ECB, Trichet: we are going to ensure price stability.

Fitch Ratings revised Spain's outlook to negative from stable and affirmed its Long-term foreign and local currency Issuer Default Ratings at AA+.

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