Wall Street Finally Moves, But Downward

It took a while, but Wall Street seems to have chosen a direction for the day's trading: down.

After hanging around the neutral line for much of the morning, the Dow is down now about 80 points, or nearly one percent.

The S&P is down about .6 percent and the Nasdaq is down about 1.7 percent.

Absent lawmakers here in Washington fiddling with the economy, absent another jaw-dropping scandal like Bernie Madoff's $50 billion Ponzi scheme (Where is all that money?), geopolitics takes center stage on Wall Street today, as traders watch the ongoing battles in Gaza between Israel and Palestinian militants.

-- Frank Ahrens
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