Stocks Weaken In Final Hour, Dow Closes Below 10,000

After trading higher most of the session, stocks swooned in the final hour of trading to close negative. The Dow closed below the key 10,000 psychological level at 9,974. This was the first close below 10,000 since February.

Today's action was almost the exact opposite of yesterday's trading, which saw an upswing in the final hour of trading.

The broader S&P 500 index closed down 6 points to 1,068 and the Nasdaq closed down 15 points to 2,196.

Volatility continues to reign on Wall Street as illustrated by the 226 intra-day point swing in the Dow.

The late day sell-off may have been triggered by more weakness in the Euro. The Euro fell 1.6 percent against the Dollar to $1.22.

The weakness in stocks today came despite positive news on the economic front. New home sales data jumped 14.8 percent in April to an annual rate of 504,000, the highest since May 2008. In addition, durable goods orders increased 2.9 percent in April, which marked the best showing in three months and more than doubled the economist forecast.

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