Primae Facie there seemed the be quite a few reasons for Wall Street to be down today. Microsoft calling off Yahoo deal, the crude oil reaching $120 a barrel and so on. But all these seemed quite micro, I feel the main gist was that investors saw that the index had climbed for quite a bit and they need some reasons to off load. Off loading at such excuses seemed reasonable and hence the drop of nearly 90 points. Not a gigantic drop but seemed more of a slide for profit taking.
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Dow Jones Down on Profit Taking
By Finance in Dow Jones Down on Profit Taking
May
5
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