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Soaring U.S. dollar punctures stock market
Thursday 17th December, 2009
As the dollar roared on Thursday stocks limped off center-stage.
The big market mover Thursday was the U.S. dollar which jumped sharply across the board.
The euro had wilted to 1.4346 by the New York close Thursday. The British pound tumbled to 1.6159. The Swiss franc dived to 1.0466.
The Australian dollar was sharply lower at .8868, while the Canadian dollar slid to 1.0701. The Japanese yen fell to 89.90.
The surprise rebound in the dollar kept investors at bay on Wall Street with all the major indices tipping into the red. Export stocks that rely on a lower dollar were hit hard, as were energy stocks.
At the close of trading in New York Thursday the Dow Jones Industrials were down 132.86 points or 1.27% at 10,308.26.
The Nasdaq Composite was off 26.86 points or 1.22% at 2,180.05.
The Standard and Poor's 500 was down 13.10 points or 1.18% at 1,096.08
Thursday 17th December, 2009
As the dollar roared on Thursday stocks limped off center-stage.
The big market mover Thursday was the U.S. dollar which jumped sharply across the board.
The euro had wilted to 1.4346 by the New York close Thursday. The British pound tumbled to 1.6159. The Swiss franc dived to 1.0466.
The Australian dollar was sharply lower at .8868, while the Canadian dollar slid to 1.0701. The Japanese yen fell to 89.90.
The surprise rebound in the dollar kept investors at bay on Wall Street with all the major indices tipping into the red. Export stocks that rely on a lower dollar were hit hard, as were energy stocks.
At the close of trading in New York Thursday the Dow Jones Industrials were down 132.86 points or 1.27% at 10,308.26.
The Nasdaq Composite was off 26.86 points or 1.22% at 2,180.05.
The Standard and Poor's 500 was down 13.10 points or 1.18% at 1,096.08
