It was a shortened trading week due to Monday’s holiday for Memorial Day. Stocks jumped Tuesday on optimism that another Greek debt crisis would be averted thanks to help from European nations. Both the Dow and S&P 500 surged more than 1%. However, May was the worst month for the Dow since last August of last year. The market fell very hard on Wednesday driven by renewed economic worries. The Dow, S&P 500 and Nasdaq all fell more than 2%. Weak employment, production, and other data suggest the economic recovery may be sputtering. Stocks continue to drift down Thursday. The markets mitigated their losses Friday with the broad market gaining approximately 1%.
Stocks fells for the fifth straight week, the longest decline for the Dow since July 2004.
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