Show Entire Article
Stocks closed lower Thursday with all three major averages logging their worst May since 2010, driven by mounting concerns over the euro zone debt crisis in addition to worries over a slowing U.S. economy.
Meanwhile, Facebook recovered to close near $30 a share after dipping below $27 earlier in the session. Meanwhile, S&P Capital IQ lowered its price target on the social networking giant to $27 from $30.
The Dow Jones Industrial Average slipped 26.41 points, or 0.21 percent, to close at 12,393.45. Caterpillar led the laggards, while BofA gained. The blue-chip index failed to log a two-day win streak this month.
The S&P 500 dipped 2.99 points, or 0.23 percent, to end at 1,310.33. The Nasdaq slid 10.02 points, or 0.35 percent, to finish at 2,827.34.
For the month, the Dow and the S&P 500 dropped more than 6 percent, while the Nasdaq plunged nearly 7 percent. The Dow and Nasdaq posted their worst monthly declines since May 2010, while the S&P posted its biggest one-month drop since last September.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, slipped below 24.
Among the key S&P sectors, techs closed lower, while financials climbed.
Page 1 of 5 | Next PageShow Entire Article
TLB News & Analysis
No recent news available
DATA IS REAL-TIME EXCEPT NOTED WITH *
* DATA DELAYED AT LEAST 15 MINUTES