FX.co ★ The US Stock Market Review for 07/09/2010

On Tuesday, the US stock indices fell, having cancelled a 4-day growth. The market has cooled after the observed last week increase at the time when the fears concerning the state of the European banks renewed. Meanwhile, the stocks of the financial companies demonstrated the most significant in the percent estimation falling. Dow Jones Industrial Average fell by 107.24 points or by 1.03% to 10340.69 having stopped a 4-day upmove. Nasdaq Composite fell by 24.86 pips or by 1.11% to 2208.89. Standard & Poor's 500 lost 12.67 pips or 1.15% to 1091.84.
American Express stocks decreased by $1.71 or by 4.1% to $40.09. J.P. Morgan fell by $0.89 or by 2.3% to $38.28, and the stocks of the Bank of America downgraded by $0.29 or by 2.2% to $13.21. The decline was observed amid the escalating skepticism concerning the last week improvement when the index DJIA rate was the best in two decades before the Labour Day. Meanwhile, the questions related to the stress-tests of the European banks have appeared, raising the concerns about their condition.