Just when we all were having such a great record breaking day we get the following 2 major alerts ...and the BIG MONEY ran for the exits (according to BNN + MSNBC).
And BWR and others fell fast!
Hopefully markets will resume their march upward Friday
Stocks close lower after reaching highs
Updated: 1 hour, 18 minutes ago
NEW YORK - Stocks plunged from lofty heights Thursday after a European Central Bank official pointed to rising price risks and a major Wall Street bank lowered its expectations for Chinese Internet company Baidu.com.
The news caused traders to take profits, particularly in the technology sector, from big gains made earlier in the session. The Dow Jones industrial average and the Standard & Poor's 500 index had reached record levels after Wal-Mart Stores Inc. lifted its profit forecast.
The market turned in the afternoon after ECB governing council member Axel Weber said rising inflation in the euro zone may require additional policy action, according to Dow Jones Newswires. The comments appeared to raise concerns on Wall Street that European growth could slow and that in the United States, inflation could prevent the Federal Reserve from making another rate cut.
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