The mood on Wall Street suggests the end of the world may be near. We just don't know how or why the end will come. Face it, we've had a tough go lately. The Dow Industrials have been down in 11 of the past 12 trading sessions, something that hasn't happened since July 2002. Do we blame it on Europe and the mess in Greece? Do we blame it on the Fed, easy money and a dragged out recession? Do we blame it on the uncertainty of the November election? Maybe it's all of the above.
The slide in stock prices continued on Thursday as investors reacted to concerns in Europe as well as disappointing economic news.
Even James Bond couldn't come to the rescue of the stock market. Yes, none other than Sean Connery was on hand to ring the opening bell at the New York Stock Exchange this morning. He was there to celebrate the 600-year anniversary of the University of St. Andrews in Scotland. But Sir Sean failed to lift stocks, which have been on a terrible tumble. The Dow Industrials dropped 33 points yesterday for the 10th loss in the past 11 sessions, a losing streak unseen since October 2008.
Cautionary comments from the Federal Reserve added to the pressure on stock prices Wednesday.
