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Mixed Results Cap Ugly June

Month was 'something like the worst since the Great Depression,' analyst says

By Sam Gale Rosen,  Newser Staff

Posted Jun 30, 2008 3:39 PM CDT

(Newser) – Stocks ended mixed today—the last day of the second quarter—and couldn't prevent the Dow and S&P from their worst June since the Great Depression, CNNMoney reports. The Dow ended up 3.50 today, to 11,350.01; the Nasdaq was down 22.65 to 2,292.98, and the S&P up 1.62 to 1,280.00. Each of the major indices was down at least 8.6% for the month.

Oil retreated from a $143-a-barrel record hit early in the session, providing some relief, the Wall Street Journal reports. Financials remained a drag on the rest of the market; as one analyst put matters, "It being quarter end, a lot of window dressing is driving things. It's no coincidence financials are weak and commodities are strong."

Traders work the crude oil options pit of the New York Mercantile Exchange Monday, June 30, 2008.
Traders work the crude oil options pit of the New York Mercantile Exchange Monday, June 30, 2008.   (AP Photo/Mary Altaffer)
A motorist drives past posted prices at a gas station Monday, June 30, 2008, in north Seattle.
A motorist drives past posted prices at a gas station Monday, June 30, 2008, in north Seattle.   (AP Photo/Elaine Thompson)
Traders work the crude oil options pit of the New York Mercantile Exchange today.
Traders work the crude oil options pit of the New York Mercantile Exchange today.   (AP Photo)
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