EU (European Union) will offer 100 billion euros bailout loans in order to rescue its troubled banking sector, and the country is the fourth eurozone country to seek relief. European economic and political situation is disturbing. Investors turn their attention more towards the Greek general election this weekend. U.S. stocks opened higher and moved lower, with three major stock indexes decreasing more than1%.
As of the U.S. stock market close: the Dow Jones industrial average fell 142.36, or 1.14% to close at 12,411.84 points, the Nasdaq composite index lost 48.69, or 1.7%, to finish at 2,809.73, and the Standard & Poor’s 500 index retreated 16.54 points, or 1.25%, to close at 1,309.12. Basic materials and financial sectors led the losses.