Trading for dummies strategies for a bear market. The euro crisis has left trading for dummies investors selling stocks now that the stock market is dropping.
The U.S. chip stocks ended Friday with steep declines, which led the Dow Jones Industrial Average ending below the psychologically important level of 10,000 points after a disappointing report on U.S. employment and renewed concerns about the economy in the euro area will generate a wave of selling in the market.The Dow Jones fell 323 points, or 3.2%, to 9932. Its 30 components ended the day in negative territory, including decreases of around 5% for American Express, Boeing, Caterpillar and General Electric.
The Nasdaq composite index fell 84, or 3.6%, to 2219 and the trading the S & P 500 for dummies fell 38 points, or 3.4%, to 1065.While the Labor Department report showed the U.S. economy added jobs in May at the fastest rate in a decade, progress was inflated by temporary contracts for the 2010 Census and were insufficient to reduce unemployment significantly.
The nonfarm payrolls rose by 431,000 in May, its biggest increase since March 2000. The unemployment rate, meanwhile, stood at 9.7% during May, down 9.9% compared to the previous month.
Economists had forecast payrolls would increase by 515 000 in May and the unemployment rate would be around 9.7%. Markets were expecting a robust jobs report, but expectations were not met. The figures were released at the same time re-emerging concerns about the trading for dummies European crisis, this time focusing on Hungary.
“Today we received a postcard from Hungary: all is not right, send money. It is a reminder that debt issues are still there and are serious and significant,” said Karl Mills, manager of Counterpoint Select Fund.