May 7, 2014

Morning Market Report

A quiet day on the market, with trading marred by uncertainty in Ukraine.

The market is down 34 points. The Dow Jones was down 130 points at 16,401 — the market opened weaker due to escalating violence in Ukraine and continued to fall during the day, pressured by some weaker than expected earnings and selling of internet and momentum names. Volume was a little below average and the market closed on its lows in a 130 point range.

Twitter shares fell 17.81% as a lock-up period expired and insiders got their first opportunity to sell since the company’s initial public offering. More than 80% of the company’s shares are affected (nearly 500 million shares).

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