(snip)"So much for "geopolitical risk" not being a factor in the markets, and for that matter so much for the bulls. Today was a psychological blow for traders as the DJIA crossed under the 12,000 level today. Israel's conducting of a training exercise to bomb Iranian nuclear facilities was the excuse needed for the bears to assume full control. Oil prices rose over $2.00 per barrel to $134.77 today, even ahead of the weekend meeting to explore ways to boost Middle East refinery production. Throw in the excuse of a Quadruple Witching Day on top of it and that's all she wrote. These are the unofficial closing levels for major US index levels:
DJIA 11,842.69 (-1.8%)
S&P500 1,317.93 (-1.9%)
NASDAQ 2,406.09 (-2.3%)
10 YR T-Note 4.137% (-0.06%)
(snip)
Cincinnati Financial Corp. (NASDAQ: CINF) managed to buck much of the downward trend today despite the company's poor guidance comments after losing money on investments and its insurance exposure to the massive Midwest Flooding. Shares were up 0.6% at $28.78 in the final minutes of trading today.
Ford Motor Co. (NYSE: F) and General Motors Corporation (NYSE: GM) were both hit hard today after S&P placed the Big 3 Auto Makers' credit ratings on review under a "negative credit watch" list. To show how sensitive the market is still treating credit risk, Ford shares were down over 8% at $5.80 and GM shares were down 6.6% at $13.81 in the final minutes today.
Despite word out of Microsoft Corporation (NASDAQ: MSFT) saying they weren't going to go on a web buying spree to eliminate additional dilution fears, shares of the software beast were down 2.5% at $28.19 in the final minutes of the day.
The Mosaic Company (NYSE: MOS) performed better than the market today, but shares saw a muted reaction after the company put its nitrogen fertilizer business up for sale. Shares were up 0.6% at $152.16 in the final minutes of trading.
Yahoo! Inc. (NASDAQ: YHOO) saw a drop after reports came out that the company is sending away 3 executives and is considering a reorganization. Shares were down 2.7% at $22.11 in the final minutes of the day."(snip)



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A bunch of pre-June news is summarised here

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