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Stock Market Watch

May 24, 2010

The Euro is sliding once again.  This weekend, the Bank of Spain had to step in and take over CajaSur, a savings bank based in the city of Cordoba, Spain.  The result is more instability in the European currency market.

Trading of the Euro has declined against the Dollar, British Pound and the Japanese Yen.

The Euro fell to $1.2384 at 6:30 this morning, very close to its record low of $1.2144.

European bank problems, along with rioting in Greece, led to the May 6th dramatic drop in the DJIA, nearly 1000 points in less than an hour.

Pre-trading on the DOW is down 73.00.

Hang on to your hats today, this could be a rough one.

UPDATE: The Dow Closed down 127.72 (1.25%) today.  This from Daily Finance:

Financial companies dragged stock prices lower Monday as already anxious investors grew even more uncertain about the US Governments financial overhaul plan and debt problems in Europe.  It was the lowest close for the DOW since February 10th.

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