Despite a sleepy performance on Friday, Wall Street was pounded by European debt fears in the worst week since September.
The Dow Jones Industrial Average, as quoted by foxbusiness.com, slid 25.6 points, or 0.23%, to 11,232 on last Friday, the S&P 500 skidded 3.1 points, or 0.27%, to 1,159 and the Nasdaq Composite fell 18.5 points, or 0.75%, to 2,442.
The Dow, S&P and Nasdaq all finished the shortened trading week by more than 4.7% to the downside, and have now been down for two weeks in a row. Indeed, the Dow has plunged close to 1,000 points in that time, while the Nasdaq has shed more than 10%. All three have now fallen deep into the red for the year after a short-lived Fall rally.
The markets have been captivated by worries over Europe's sovereign debt crisis. Financial stocks have taken a particularly strong beating over the past week as worries have stirred over the global financial systems' exposure to the debt crisis. How about Indonesia stock market today? Bisnis Indonesia provides stock recommendations today:
Technically, Jakarta Composite Index tends to weaken within the range of 3,586-3,680. The result of debt sale and the policy of the European countries are still expected to provide sentiments to the index. Several stocks to watch for day trading: BDMN, ISAT, HEXA, and MNCN.
The index today may move within the range of 3,580-3,684. The JCI weakened 58.84 points or 1.59% to 3.637.19 on last Friday.
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