NEW YORK -- The Dow Jones industrial average closed below 10,000 for the first time in three months Monday on nagging concerns about debt loads in Europe. Shares of big banks pulled the market lower, extending a slump that has led to four straight weekly losses.
Mounting deficits in weaker European economies, including Greece, Portugal and Spain, have raised questions about the health of the global financial system.
Greece's finance minister said Monday the government is preparing to boost some taxes to shore up its finances. But civil servants opposed to replica rolex cutbacks have pledged to strike Wednesday.
The questions about finances in Europe are only the latest blow to investor confidence. The market began to stumble in mid-January after China announced plans to contain economic growth and as the Obama administration proposed rules to restrict trading by large financial institutions.
The Dow fell 103.84, or 1 percent, to 9,908.39. On Thursday, the Dow traded below the psychological barrier of 10,000 for the first time since Nov. 4. The broader Standard & Poor's 500 index fell 9.45, or 0.9 percent, to 1,056.74, while the Nasdaq composite index fell 15.07, or 0.7 percent, to 2,126.05.
In earnings news, the toymaker Hasbro Inc. said its profit surged 77 percent in the fourth quarter, while drugstore chain CVS Caremark Corp. said its earnings replica clothing rose 11 percent.
Kaman, Lockheed show drone copter
BLOOMFIELD -- Lockheed Martin Corp. and Kaman Aerospace Corp. are launching their own unmanned military helicopter.
Fendi Replica HandbagsLockheed Martin, in Bethesda, Md., and Kaman in Bloomfield said Monday they have demonstrated to the Marine Corps the capability of an unmanned helicopter to resupply troops in Afghanistan.
The companies said that in a series of flights last week at the Army's Dugway Proving Ground in Utah, the unmanned helicopter demonstrated preprogrammed and remote-control flight.
The announcement comes a week after Sikorsky Aircraft Corp. launched a business venture that will promote new helicopter technology, including unmanned Black Hawks.
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