Investors fear failure to fix the fiscal cliff will lead to recession. European stocks slump after ECB President Draghi says even Germany is weakening. Apple has fallen 20% since September. Bank and energy stocks fall. Oil and gold slip.
The central bank is expected to announce a new stimulus plan Thursday, but it could hold off. While that would surprise and annoy investors, there may be good reasons.
Cliffs Natural Resources, Alcoa and Bank of America are among the leaders. Crude oil tops $97. A German court rules Wednesday on whether Germany can participate in a eurozone rescue fund. Luxury retailers take a hit.
The Dow falls 52 as some traders take profits ahead of decisions this week from Europe and the Fed. Intel's earnings warning last week weighs on chip stocks. AIG slips after the Treasury says it will cut its stake in half.
The major averages manage small gains after the government says the economy created 96,000 jobs in August, less than expected. Gold jumps as traders expect more Fed stimulus. Google tops $700. Pandora Media slumps as Apple may become a rival.
The Dow ends up 90 after the Fed Chairman says the central bank won't shy from trying to boost the economy. Facebook hits a new low. Gold hits a 5-month high. September historically can be rough.
An 83-point loss for the Dow shrinks to 31 points as minutes show the Federal Reserve inching toward a new economic stimulus plan. Hewlett-Packard earnings beat estimates, despite soft PC sales. Dell sags. Housing shows some strength.
The major averages slide lower after the Federal Reserve promises more stimulus only if the economy sags more. The European Central Bank meets Thursday to deal with Europe's woes. US manufacturing dips. Auto sales are solid. Facebook falls below $21.
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