Markets Breakdown in Late Trading
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After starting the day in the green following this weekend's Spanish bank bailout, markets broke down late in the day on Monday after investors lost their appetite for risk. Apple Inc.'s (Nasdaq: AAPL) latest product announcements did little to motivate investors, as investors seem to be experiencing a bit of fatigue.
As a result, the Nasdaq led markets into the red with (Nasdaq: QQQ) losing 1.56 percent, while (NYSE: SPY) lost 1.2 percent.
In terms of sectors, materials (NYSE: XME), energy (NYSE: XOP), and financials (NYSE: XLF) all traded lower, while utilities (NYSE: XLU) and consumer stapes held their ground (NYSE: XLP).
Spot gold (NYSE: GLD) was solid, but gold mining stocks (NYSE: GDX) received little love and were lower, in-line with the broader market.
As a result, the Nasdaq led markets into the red with (Nasdaq: QQQ) losing 1.56 percent, while (NYSE: SPY) lost 1.2 percent.
In terms of sectors, materials (NYSE: XME), energy (NYSE: XOP), and financials (NYSE: XLF) all traded lower, while utilities (NYSE: XLU) and consumer stapes held their ground (NYSE: XLP).
Spot gold (NYSE: GLD) was solid, but gold mining stocks (NYSE: GDX) received little love and were lower, in-line with the broader market.
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