DJIA / Market Close for Wednesday, February 15, 2012

The Dow closed down -97.33 (-0.76%) at 12,780.95. This is the Dow’s worst day of 2012. The Nasdaq, S&P 500 and Russell 2000 were also down today.

Apple (AAPL) also closed below $500 (at $497.67) after just closing above it for the first time this week on Monday.

Today, 5 of the 30 Dow component stocks closed up and included IBM, PG, JNJ, TRV and HPQ.

Bank of America (BAC) was the top loser, followed by UTX, CAT, JPM and AA.

General Electric Co (GE) believes China’s economy, a key source of revenue growth for GE, will slow this year but not substantially below 8 percent.

European stocks closed flat to slightly higher while Asian markets ended with solid gains.

Today’s drop, according to me, was due to the Greece debt crisis. There, I said it and got that out of the way.

The Fed released the minutes from its late-January monetary policy meeting, saying they expected modest economic growth and gradually declining unemployment.

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