The S&P 500 closed out with its second straight loss and its fourth decline in eight sessions. Continuing the recent trend of correlation, the dollar rose as crude, gold and stocks all dropped.
In focus today was sovereign debt related news, including a downgrade in Dubai and Greece as well as a warning to the U.S. and U.K. None of these countries debt problems are new, but they give market participants a perfectly good reason to sell a top-heavy market.
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Peter J. Lazaroff, Investment Analyst
Tuesday, December 8, 2009
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