Roundup: U.S. stocks end mixed on contagious fears
Monday, November 22, 2021 5:22 PM

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NEW YORK, Nov. 22, 2010 (Xinhua News Agency) -- U.S. stocks ended mixed on Monday after Ireland formally requested a bailout as contagious fears were still lingering in the market.

The Dow Jones industrial average tumbled about 150 points in morning trading after an EU source said a total of 80 billion to 90 billion euros might not be enough to backstop Irish banks or stop similar runs on assets in heavily indebted countries.

Ireland, whose debt problems weighed on the market in past weeks, asked European Unions for loans during weekend, once giving a boost to the euro. However, enthusiasm about the deal soon melted away as investors once again focused on other stressed euro- zone countries, such as Spain and Portugal.

Meanwhile, financial stocks were under great pressure after FBI raided some investment firms, seeking documents related to hedge fund inside trading.

Goldman Sachs was one of the S&P 500's biggest losers, with shares tumbling 3.37 percent on a report over the weekend that investigators are looking at possible insider trading allegations tied to the firm's dealings in transactions including a health- care merger.

The Nasdaq composite managed to finish in positive area. Computer giant Hewlett-Packard (NYSE:HPQ) released its results for the fiscal fourth quarter ended October after the market closed, which topped Wall Street estimates.

HP said its net income totaled 2.54 billion dollars, a 5 percent year-on-year increase, in the latest quarter, benefitting from stronger corporate spending. HP's share closed up 1.79 percent and climbed higher in after hour trading.

Investors were awaiting a heavy batch of economic data due out on Tuesday and Wednesday in a holiday-shortened week, especially the revisions to earlier estimates of the third-quarter gross domestic product. The market was expecting the latest reading to be a little bit higher than the previous 2.0 percent.

As of Monday's close, the Dow Jones industrial average dropped 24.97 points, or 0.22 percent, to 11,178.58. The Standard & Poor's 500 index fell 1.89 points, or 0.16 percent, to 1,197.84. The Nasdaq was up 13.9 points, or 0.55 percent, to 2,532.02.

(Source: )
(Source: Quotemedia)
 

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  • Pakistan foils capital bomb plot; missiles kill 3 Nov 26, 2021 09:58 AM

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    • The military has responded by launching offensives in the remote northwest where the insurgents are based, and the U.S. has increased its barrage of missile attacks on those strongholds out of reach of the Pakistani army.
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            • The area is home to a mix of Afghan and Pakistani Taliban.
              • Officials pull out of CA bomb factory, cite danger Nov 26, 2021 08:49 AM

                • ESCONDIDO, Calif. - Explosives experts have pulled out of a northern San Diego County home with a large quantity of bomb-making materials because it's too dangerous.
                • The Sheriff's Department says "proactive operations on site have been suspended" and local, state and federal explosives experts are making plans to re-enter the home and remove hazardous materials.
                • Among other things, bomb technicians found what is believed to Pentaerythritol tetranitrate, or PETN, which was used in the 2001 airliner shoe-bombing attempt as well as in last month's airplane cargo bombs.
                  • All-night shop-a-thon: Black Friday draws crowds Nov 26, 2021 08:42 AM

                    • Bargain shoppers, braving rain or frigid weather, crowded the nation's stores and malls in the wee hours of the night to get their hands on deals from TVs to toys on Black Friday.
                    • In a bid to grab shoppers earlier on the traditional start to the holiday shopping season, a number of stores including Old Navy, Toys R Us and Sears opened on Thursday's Thanksgiving holiday.
                    • Toys R Us' 10 pm. opening at its flagship store in Times Square drew 1,500 shoppers, says CEO Jerry Storch.

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