Despite meager gains yesterday and a lift off into the afternoon today, the major indices just couldn’t take the sell offs and once again proved to be a disappointment for the bulls.
The Dow, NASDAQ, and the S&P 500 all ended modestly lower.
With China’s economic lending tightening, the U.S. steel industry backed down and took a hit, as we previously discussed this morning.
Gold was a winner, squeezing out a gain of $2.50 to close just below $1100. Silver was down 2% at $16.80 an ounce.
Oil was down slightly at $74.69 a barrel.
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See Also:
- The Scott Brown Selloff Gets Worse, Dow Down Nearly 160 Points
- January Markets Signal A Textbook Recession
- Jim Rogers: Stocks To Be Crushed Any Day Now