Wall Street takes a hit from ECB disappointment

by Blogburger on August 3, 2012

Traders work on the floor of the New York Stock ExchangeNEW YORK (Reuters) – Stocks fell for a fourth day on Thursday after European Central Bank President Mario Draghi disappointed investors hoping for immediate action to contain the euro zone debt crisis. One of Wall Street's top market makers, Knight Capital Group , was fighting for its survival after a trading glitch that roiled markets on Wednesday wiped out $ 440 million of the firm's capital. However, the market focused mostly on the ECB, though traders were also looking ahead to Friday's closely watched U.S. jobs report which could bring a volatile end to an eventful week. …



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