Will the stock market drop below 10000 in 2010. WEil the stock market go lower than 10000 level in trading.
The main index of U.S. stocks ended with steep declines on Thursday after growing concerns about the problems in the euro area and a weak report on U.S. employment pushed investors to avoid risk.
With today's declines, the major indexes logged their first technical correction since the bull run seen from a low in March 2009.
"What we're seeing now is probably a market that was heading towards a correction anyway, and people are finding good reason to take advantage of the technical place where we are," said Doreen Mogavero, chief executive of the firm brokerage Mogavero, Lee & Co. in New York.
The casualties of the acts took place in the hands of the declines in other markets around the world, from the Australian dollar to metals, as investors follow from riskier assets and seek refuge in safer assets, Treasuries as the United States.
The Dow Jones Industrial Average fell 376 points, or 3.6%, to 10 068, which is located in technical correction territory, having fallen more than 10% from a record high close of session in 2010.
The Standard & Poor's 500 lost 43 points, or 3.9%, to 1072. Sales were intensified after the index was below its 200 day moving average of 10 258 and 1102, respectively. The displacement of the S & P 500 below 1100 was a key psychological movement that generated more sales, traders said.
The index also recorded a correction of 10% from their peak in 2010, reached last month.
