Friday, 24 February 2012

Rally

Wall Street ends 5-day rally on renewed euro-zone concerns

NEW YORK (Reuters) - U.S. stocks fell more than 1 percent on Wednesday after a hefty year-end rally and the S&P 500 erased gains for the year on renewed concerns about the euro zone's financial health. The selloff followed the euro's slide to an 11-month low against the U.S. dollar as regional debt worries prompted a wave of selling, with thin trading exacerbating volatility. "It seems like the weakness in euro, breaking that $1.30 level, really made investors push that 'sell' button," said Ryan Detrick, senior technical strategist with Schaeffer's Investment Research in Cincinnati. ... read more..

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