S&P 500
7,226.20
+0.01%
Dow Jones
49,494.60
-0.62%
Nasdaq 100
27,685.40
+0.66%
Russell 2000
2,804.78
-0.02%
FTSE 100
10,364.50
0.00%
Nikkei 225
59,260.50
-0.78%

Investing

Asia Stocks Wounded and Europe Falls

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Updated Published
Follow 24/7 Wall St. on Google
This post may contain links from our sponsors and affiliates, and Flywheel Publishing may receive compensation for actions taken through them.

Worries about whether Greece will remain in the European Union after its leaders failed to form a coalition caused shares in Asia to fall sharply.

The Hang Seng dropped nearly 3.2% to 19,264. The Nikkei fell 1.1% to 8,801. The Shanghai Composite was down 1.2% to 2,457.

Most markets in Europe opened off at least 1%. Bank shares were hurt particularly on concerns that their sovereign debt holdings may have to be written down in some cases. Gold and oil were both off on belief that the global economy could falter.

While data from the EU yesterday showed that the region was not in recession in the first quarter, this was largely because of an improvement of 0.5% in Germany. Figures for Greece, Spain and Portugal showed contraction, and France was no better than flat in GDP movement over the last month of 2011.

Douglas A. McIntyre

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Featured Reads

Our top personal finance-related articles today. Your wallet will thank you later.

A 71-Year-Old's $850,000 Home Is Her Biggest Retirement Asset. Downsizing Could Add $2,250 a Month
Drew Wood |

A 71-Year-Old's $850,000 Home Is Her Biggest Retirement Asset. Downsizing Could Add $2,250 a Month
Why The Money Guy's 25% Savings Rule Actually Starts at 15%
Ian Cooper |

Why The Money Guy's 25% Savings Rule Actually Starts at 15%

Continue Reading

Chris Lange |

The Greek Conundrum Takes Its Toll

With the woes of Europe dominating the headlines for the start of 2015, the concerns about the future of Greece…
Jon C. Ogg |

National Bank of Greece Earnings, A Mere Distraction (NBG)

If you have invested in or traded around news in the lands of the PIIGS, Greece is perhaps the prominent…
Jon C. Ogg |

One More Implosion for National Bank of Greece

thinkstockThe short sellers in America were already pounding on the National Bank of Greece S.A. (NYSE: NBG). Just on Wednesday we…
Jon C. Ogg |

Is There a New Greek Bank Nationalization Risk After IMF News?

Greece has notified the IMF that it plans to bundle all of its June payments, which means the IMF and…
Douglas A. McIntyre |

What’s Important in the Financial World (1/27/2012) Apple No. 1 Smartphone Seller, Starbucks Recovery

New research from Strategy Analytics shows that Apple (NASDAQ: AAPL) was the number one seller of smartphones worldwide, with a 23.9%…
Jon C. Ogg |

24/7 Wall St. Closing Bell (F, GM, NBG, ALU, YHOO, PFE, HD, ADM, BBX, EXEL)

The markets are beyond jittery.  From a massively overbought market discounting a recession entirely back to a market dominated by the…
IMF Calls for More Greek Debt Restructuring
Jon C. Ogg |

IMF Calls for More Greek Debt Restructuring

Greece is back in the news. The good news about Greece is that they are not back in the news…
Jon C. Ogg |

Is Reopening Greek Banks Actually Bad News?

Greece has systemic problems that go very deep, and its fate inside the European Union and inside of the euro…
Jon C. Ogg |

When Dealing With Greece Becomes Impossible

Why do the Europeans, and anyone else for that matter, continue to play this ongoing shell game with Greece?

Top Gaining Stocks

Cboe Global Markets
CBOE • Vol: 1,568,143
New Pluto Global
PSKY • Vol: 12,285,993
Seagate Technology
STX • Vol: 7,378,346
Oracle
ORCL • Vol: 26,317,675
Datadog
DDOG • Vol: 6,247,779

Top Losing Stocks

LKQ
LKQ • Vol: 4,367,433
Clorox
CLX • Vol: 13,260,523
Stryker
SYK • Vol: 4,519,455
Mohawk Industries
MHK • Vol: 1,859,865
Amgen
AMGN • Vol: 3,818,618