S&P 500 Down 1.8 - Market Update

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Market Update Analysis:

S&P 500 Down 1.8%

Author: 123jump.com Staff
123jump.com
Last Update: 5:06 PM EDT June 05 2006

Inflation fighting talk from Fed did it. Nervous investors sold stocks as Fed Chairman discussed rise of core inflation and loss of job growth momentum and economic momentum. Market averages slid in the last one hour of trading and Mexico and Brazil sold-off in sympathy. European markets declined led by 1.16% fall in Germany. Caterpillar dropped 4.8% but recently listed Mastercard rose 4.6%. Euro rose to a three-month high against the U.S. dollar.

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