Wall Street Sell-Off Continues as Dow Plunges 520 Points on August 10, 2011

Fear returned to Wall Street on Wednesday August 10, 2011 — sending the S&P 500 to another 4 percent decline, triggered by worries that Europe’s debt crisis could engulf French banks and spill onto the U.S. financial sector. Trading was once again marked by sharp moves on heavy volume. For a fifth straight day, the Dow Industrials fluctuated in a range of more than 400 points. “What you’re seeing is a very short-term, direction-oriented market,” said Eric Kuby, chief investment officer of North Star Investment Management Corp in Chicago. Worries about the strength ...