Wednesday 7 March 2012

U.S. MARKET UPDATE


The US markets closed sharply lower, with the Dow posting its first triple-digit decline in 2012, fueled by fears over a Greek default and amid economic growth concerns. The CBOE volatility index surged above 20 for the first time since mid-February. Meanwhile, open interest in the VIX index futures reached new all-time highs on Monday, hitting levels not seen since last June.
Dow Jones Industrial Average slipped 1.57% or 203.66 points at 12759.15. Nasdaq Composite was down 1.36% or 40.16 points at 2910.32. Standard & Poor’s 500 shed 1.54% or 20.97 points at 1343.36.
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