The broader stock indices (S&P and Nasdaq) moved lower in the morning trading, and then rallied into the early afternoon trading.
- The Nasdaq went from down -156.17 points to +26.79 points.
- The S&P moved as high as +16.05 points.
However, momentum faded in all the major indices in the last hour or so of trading, the prices stumbled and fell - closing near the lows for the day.
All three indices fell with the Nasdaq still leading the way lower. The Dow the best performer but still closed lower at/near the lows for the day.
The final numbers are showing:
- Dow industrial average, -210.70 points or -0.62% at 33537.15. That is just off the low for the day at 33533.96
- S&P -35.40 points or -0.89% at 3957.52. That also was just off the low at 3956.40. The high for the day reached 4008.97 but could not sustain momentum above the 4000 level
- Nasdaq fell -127.10 points or -1.12% at 11196.23. The Nasdaq was lower earlier in the session (first hour of trading), but after rallying and testing the highs from Friday, buyers turned back to sellers.
- Russell 2000 fell -21.48 points or -1.14% at 1861.25.
Overall, a disappointing day for the stocks. The buyers almost dug the indices out of the hole, but sellers were waiting and the price reversed lower.
