Broad Based Selloff on Wall Street
Stocks dropped sharply on Tuesday with the Dow losing nearly 150
points. Troubling forecasts from retailers Home Depot and
Sears along with soaring crude prices brought in broad
based selling.
Crude oil futures for August delivery rose 0.9%
to $72.81 per barrel. Gold
futures for August delivery rose fractionally to $664.40 an ounce.
Around Europe, Germany’s DAX index dropped 1.4% to 7,964.76,
France’s CAC 40 index lost 1.4% to 6,019.22, and Britain’s FTSE
100 fell 1.2% to 6,630.90.
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Darren Wong
Associate Editor
darrenw@tradingmarkets.com