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Richard's Thoughts on Life

Daily Recap

Further weakness in the US dollar played a role in European stocks dropping sharply today. A weaker dollar means weaker exports for Europeans, and that's not good for them. London's FTSE lost only 1.27%, but German stocks gave up twice as much; the STOXX 600 fell 2.1%.  

US stocks were down since the opening bell, and look to close nearer their lows than their highs for the day. The Dow Industrials are on track to add to their losses of the past few days, and the other indices aren't doing any better. All in all, it has been a bad week for US stocks as measured by the wide S&P 500 index, down more than 2% on the week.

The dollar dropped a fair amount today, with interest rates down slightly as well. Crude oil, capping a good week, gave back just a few cents per barrel, while finishing near $46.  

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