Monday saw US markets closed for the Presidents Day holiday.
After a holiday for US markets on Monday, they opened on Tuesday and headed south amidst fears of yet more accounting problems. This all came about following the problems with Enron and investors seem to think they were not the only ones. Technology shares could not escape the downward spiral, with the Nasdaq ending the day down by almost 3.5% and the Dow Jones Industrials down by over 1.5%.
Wednesday saw an about-turn late in the day's trading with investors seeming to cast off their accounting practices worries and dive in for technology and financial stocks. A day well in the black ended with the Dow Jones up by 2% and the Nasdaq 100 up by 1.5%.
Thursday's trading was mostly in the black but all hell let loose within the closing hour. After a positive day for the Dow Jones, technology problems crossed over and send the index downwards by over 1% at close of play. This was small fry compared to the Nasdaq 100 which finished the day battered and down almost 4.5%. To add to the problems, unemployment was up by 10,000 and this was more than expected by analysts.
Friday saw another reversal of fortune and technology was back in favour. The Dow Jones managed to close up by almost 1.5% and even the Nasdaq managed a gain of just over 0.5%.