Dow Jones Industrial Average Battered By 'Brexit' Anxiety

The iPhone Report That Sent This Stock Reeling

by Celeste Taylor

Published on Jun 10, 2016 at 4:28 PM

The Dow Jones Industrial Average (DJIA) slumped out of the gate, as "Brexit" fears wreaked havoc on stocks and bond yields around the world. Sliding oil prices also contributed to the Dow's triple-digit loss, as did anxiety ahead of next week's highly anticipated Fed policy meeting.

Continue reading for more on today's market, including:

The Dow Jones Industrial Average (DJIA - 17,865.34) finished the day down nearly 120 points, or 0.7%. Verizon Communications Inc. (NYSE:VZ) finished up 1.4%, leading the seven Dow winners, while Goldman Sachs Group Inc (NYSE:GS) paced the 23 Dow losers, shedding 2.1%. Week-over-week, the Dow gained 0.3%.

The S&P 500 Index (SPX - 2,096.07) ended the day down 19.4 points, or 0.9%, losing its hold on the key 2,100 level. The Nasdaq Composite (COMP – 4,894.55) lost 64.1 points, or 1.3%. The SPX gave up 0.1% for the week, while the COMP lost 1%.

The CBOE Volatility Index (VIX – 17.03) gained 2.4 points, or 16.3%, to finish at its highest close since early March. Week-over-week, the VIX rose 26.4%.

Indexes Closing Summary June 10

NYSE and Nasdaq Stats June 10

5 Items on Our Radar Today: 

  1. The Wall Street Journal is reporting a possible Viacom, Inc. (NASDAQ:VIAB) board shake-up as the company's battle for control wages on. (Wall Street Journal) (Subscription required)
  2. Gawker Media is selling assets after its Hulk Hogan lawsuit put it in a bankruptcy headlock. (CNN)
  3. Why it may be time to develop an appetite for Hormel Foods Corp (HRL).
  4. Amazon.com, Inc. (NASDAQ:AMZN) got another pat on the back.
  5. This week has been anything but an uphill battle for Vail Resorts, Inc. (MTN) shares.

Corporate Earnings June 10

Unusual Options Activity June 10
Data courtesy of
Trade-Alert

Commodities:

July-dated oil fell $1.49, or 2.9%, to end the day at $49.07 per barrel. A stronger dollar weighed on oil prices, as well as the second straight weekly rise in active domestic oil rigs, according to Baker Hughes. Week-over-week, black gold ended up 0.9%.

August-dated gold gained $3.20, or 0.3%, to finish at $1,275.90. A flight to "safe haven" assets amid "Brexit" fears boosted the precious metal, which ended up 2.7% for the week. 

 

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