Oil at $140.39, gold surging $32.80 to $915.10, scarily bearish analysts – it was all too much for Wall Street on Thursday.
The Dow slid 358.41 points – 3 per cent – to a 21-month low of 11,452.42 and the S&P 500 lost 38.82 points – 2.9 per cent – to 1,283.15. The Nasdaq fell 79.89 points – 3.3 per cent – to 2,321.37.
The chart below is the Dow – note the surge in volume as the end of the trading day approached.
But there was one winner on Thursday – the venerable Smith & Wesson, maker of handguns and beneficiary of the US Supreme Court’s decision that Americans have an individual right to bear arms.
SWHC rose 6.7 per cent after the Court ruled that Washington DC’s handgun laws violated the Second Amendment to the Constitution.
Related links:
Scalia’s Law – Portfolio.com