Headlines out of Europe once again dominated trading on Monday, and the headlines got worse as the day wore on. Towards the end of the day, a report came out of Dow Jones Newswires suggesting that the EU finance ministers couldn’t agree to raise the ceiling of the European bailout fund to 500 billion Euros.
That added to pessimism fueled by ECB President Mario Draghi’s negative sentiment about the European economy, and the region’s prospects should the union break up.
The Dow ended the day down 100 points at 11,766. The S&P 500 dropped 14.3 points to 1,205.4. Financials fell hard and Bank of America (BAC) ended at $4.99.
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