'Your papers, please' must never be heard in America
When the stock market began tumbling Thursday, many people assumed the selloff had something to do with the Supreme Court ruling to uphold President Obama's health care law. But for a lot of investors, it was the same old concerns about Europe, along with a few new worries.
Stocks are ending the day mixed after a sharp recovery in the last hour of trading.
Stocks fell in late-afternoon trading Thursday, erasing early gains. Bank of America Corp. led other bank stocks higher on news that Warren Buffett will invest $5 billion in the bank.
Stocks are starting December with a jump. The Dow Jones industrial average rose 249 points, its biggest gain since Sept. 1.
Stocks fell moderately Friday as investors continued a sell-off that began a day earlier over worries about the pace of the recovery.
No matter where they look, investors are seeing economic trouble.
Mr. Zemsky said a surprise swing up or down "could change the direction of the stock market and the presidential election."
The market could look quiet until the government gives its monthly jobs report on Friday, said Paul Zemsky, chief investment officer of multiasset strategies at ING Investment Management.
