Wall Street: Wall Street ends sharply down with financials Tuesday, May 18, 2010 at 22:36

NEW YORK (Reuters) - Wall Street has closed down
more than 1%, within the scope of both the collapse of values
Financial sealed by the prospect of a cure
the regulatory system but also by the return of
Concerns about the consequences of the crisis
debt in the euro area.
After initially opened up to for
strong quarterly results from Wal-Mart and advances
in the implementation of the stabilization mechanism of
750 billion euros in the euro area, Wall Street has unfolded
under successive battering.
Stakeholders await with some trepidation
new rules to limit transactions
when financial markets skid so
uncontrolled, which will be proposed Tuesday by the SEC
response to an unexplained dip on Wall Street May 6
The German decision to prohibit from
Wednesday selling expose on the ten
major financial institutions in the country and
on government bonds in the euro area and CDS
backed by such obligations, also weighed on the side,
financials in particular.
They finally have suffered from the compromise in the Senate on
the balance of power between local and responsible
federal oversight of the banking sector
an agreement paving the way for adoption of the recast
financial regulation in the United States intended by
Obama administration.
The S & P financial sector has declined
2.79%, with Bank of America retreating from 2.51% to 15.94
dollars, JP Morgan Chase 2.11% or $ 39.00
Goldman Sachs still 3.7% to 137.36 dollars.
The shares of Visa and MasterCard respectively
dropped 6.18% to 70.09 dollars and 3.79% at 202.81
dollars after the CEO of Visa said
the Senate bill to limit
commissions on credit cards or debit could
affect trading volume.
Abercrombie & Fitch's action has lost 5.89% to 38.38
dollars after announcing its decision to review the
down its plans to open stores abroad
This year, area where the chain of clothing stores
Yet Young has the best potential
growth.
Wal-Mart has gained 1.84% to 53.70 after its results
better than expected. In contrast, Home Depot, which has
also exceeded expectations, sold 2.42% to 34.73
dollars.