Dow Jones Takes Big Hit on Monday
June 15, 2009 by Stephen Kersey
Filed under Business
The rally on Wall Street seems to have hit a bit of a lull. On Monday, stocks took a big hit. In fact, the Dow Jones industrial average took its biggest hit in nearly two months.
When all was said and done, the Dow Jones fell to 8,612.1 — a drop of more than 2%. The Nasdaq composite index was down 2.3%, while the S&P’s 500 index dropped 2.4%. The Russell 2000 index, which takes a broad look on the market, was down almost 3%.
The struggles in the United States weren’t too big of a surprise, especially after Europe and Asia began Monday on a sour note.
Other financial news on Monday was that the U.S. dollar strengthened, especially against the Euro. On Friday, one Euro was worth about $1.401. On Monday, one Euro dropped in value to $1.3806.
After a strong showing in March, the U.S. dollar had begun to weaken. This latest change could send it rallying in the other direction, according to currency experts.
U.S. Dollar rises against Euro (Image: Flickr)
