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Showing posts with the label 2012 by MarketWatch Reporter Kate Gibson

U.S. stocks slammed by European worries: Stocks and Markets in the News | Wall Street at Close Report for August 30th, 2012 by MarketWatch Reporter Kate Gibson

By Kate Gibson NEW YORK (MarketWatch) -- U.S. stocks Thursday were hit by thinking the next European Central Bank meeting would not deliver the promised results and that the Federal Reserve's Jackson Hole gathering could prove to be a nonevent."I suspect the market would be surprised if anything substantive came out of Jackson Hole: the big one now is next Thursday when ECB meets. We've been hearing a lot of chatter about how the ECB may not be in a position to do anything definitive next week, which puts the euro crisis back in focus," said John De Clue, global strategist for U.S. Bank Wealth Management. The Dow Jones Industrial Average DJIA -0.81% fell 106.71 points, or 0.8%, to 13,000.71. The S&P 500 index SPX -0.78%