9th December 2011
US markets have dipped in trading today (December 9th) as investors continue to worry over the state of eurozone economies.
The Dow Jones Industrial Average fell by 169 points (1.4 per cent) as of the close of trading, while the S&P 500 was down by 23.3 points (1.8 per cent), Fox Business reports.
Hopes of a massive bond sale organised by the European Central Bank (ECB) have proven less than fruitful over recent days and this lack of action is now weighing heavily on investor confidence.
It follows an announcement that European banks are presently short some $115 billion (£73.5 billion) in capital. As a result, financial institutions will now have until the end of January next year to shore up their finances or face action from the ECB.
Earlier this week, US stocks were improving as rumours emerged over a possible £200 million bailout fund from the ECB. However, these rumours were dispelled yesterday by the bank's boss Mario Draghi.
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