Stock market slips on Monday amid broad downturn
New York markets opened lower as investors took profits and sold off after recent gains. The Dow Jones average slipped about 12 points toward 9670, with totals reaching 10.46 million shares traded amid declines in glamour issues and several sectors, while some steels and golds edged higher.
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Market Pullback Expected After Sharp Dow Rally
Analysts note a pullback was anticipated as the Dow ends Friday at 978.63 the highest since spring. Weekend results and overseas events dampen morale, while Fed easing signals hint at easier credit ahead. Bond prices drop Monday following remarks delivered to the Business Council.
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