Wall Street again weakened in trading Friday on fears of Middle East political crisis and oil prices are still not stable in the next few weeks.
These concerns cover the good news from within the United itself, namely the unemployment rate had dropped to below 9%, the first time in two years. But investors still fear the adverse effects of the crisis Libya.
Brent crude oil rose to above U.S. $ 116 per barrel and the CBOE Volatility Index VIX. VIX, or commonly called a gauge of risk Wall Street rose 2.7% to as low as 19.11.
"After the rally a few days, the market becomes very vulnerable to a variety of news, particularly about rising oil prices," said Director of Trading and Derivatives Schwab Center for Financial Research Randy Frederick, as quoted by Reuters on Saturday (03/05/2011).
Earlier this week, data on positive U.S. employment has lifted the shares to its highest position since three months ago.
However, the bank's shares tumbled after Merrill Lynch actually declare their income in the quarter I-2011 could go down due to soaring world oil prices and reduced activity of their clients.
In trading Friday (03/05/2011) local time, the Dow Jones index fell 88.32 points (0.72%) to the level 12169.88. The broader Standard & Poor's 500 index decreased 9.82 points (0.74%) to a level of 1321.15. The Nasdaq Composite Index fell 14.07 points (0.50%) to a level of 2784.67.
During the week, the Dow Jones Index rose 0.3% and S & P and Nasdaq both increased 0.1%. A total of 7.73 billion shares traded on the New York Stock Exchange, NYSE Amex and Nasdaq, this figure is still low compared to average daily trade last year amounted to 8.47 billion shares.
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