Why The Market Fell Today – 06/23/11 © ™

Here are a few of today’s headline articles that are affecting the stock market.

  • The new Greek finance minister, Evangelos Venizelos, has angered his European counterparts by attempting to renegotiate privatization plans and change the time line of the imminent vote.
  • Bernanke made a big point during Wednesday’s press conference, no QE3 is coming.
  • Initial jobless claims were up to 429K from a revised 420K last week.
  • The debt ceiling negotiations have collapsed.  It’s now up to Obama and Boehner to find a solution.
  • Chicago Fed Index numbers were bad.

The market expected some of these events yesterday and began falling hard during late trading.  I’ll have an update after the market close today.

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