Investors punished shares of companies directly involved with the spill and losses accelerated into the close following the news of the investigation.
"It's the fact that no one can really quantify the cost of the BP disaster out there," said Gary Bradshaw, portfolio manager at Hodges Capital Management in Dallas.
"There's so much uncertainty, investors are stepping to the sidelines."
INDEX | VALUE | CHANGE | % CHANGE | TIME |
---|---|---|---|---|
DOW JONES INDUS. AVG | 10,024.02 | -112.61 | -1.11% | 06/01 |
S&P 500 INDEX | 1,070.71 | -18.70 | -1.72% | 06/01 |
NASDAQ COMPOSITE INDEX | 2,222.33 | -34.71 | -1.54% | 06/01 |
S&P/TSX COMPOSITE INDEX | 11,571.97 | -191.02 | -1.62% | 06/01 |