Stocks fell Thursday, driven lower by a confluence of frayed nerves over Europe's sovereign debt, market technicals and fresh worries over Washington's debt negotiations.
The Dow Jones Industrial Average, as quoted by WSJ.com, shed 134.86 points, or 1.1%, to 11,770.73, the third loss in four days. All but two blue-chip components finished lower. The Standard & Poor's 500-stock index lost 20.76 points, or 1.7%, to 1,216.15. The technology-oriented Nasdaq Composite dove 51.62 points, or 2%, to 2587.99.
Heavy afternoon selling in S&P 500 futures contracts pushed the broad stock index through key technical levels after a morning of small gains and losses.
A Spanish government-bond auction ended with a euro-era high average yield, just under 7%, and a Federal Reserve official warned Europe's debt crisis could bite into U.S. economic growth. The lack of progress from Washington's deficit-cutting "supercommittee" also kept traders on edge. How about Indonesia stock market today?
Jakarta Composite Index (JCI) is estimated to move within the range of 3,748-3,833 with several stocks to watch: AKRA, SMRA, and BBNI.
Minna Padi Investama:
Debt crisis in Europe has put the JCI into the negative area. External sentiments will influence the index movement. Investor is still in wait and see. Several stocks to watch: BBCA, ADRO, and HRUM.
The index technically tends to lower within the range of 3,750-3,850. Several stocks for daily trading: UNVR, TLKM, LSIP, and AKRA.
Disclosure: No position at the stock mentioned above.
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