Dow Closes at Three-Month Low

The economy’s rollercoaster ride barrels on, with the Dow closing today at a three-month low. Despite a larger-than-expected rise in home sales, the 126-point loss Monday triggered worries about the global economic outlook. Since late April, stocks have dropped more aggressively—and lingering problems over the European debt crisis, the struggling euro, and the BP oil spill aren’t helping. Some investors are worried that we might be heading into another bear market, though others remain hopeful. “I think it’s a correction or a pause rather [than] a bear market,” said the president and CEO of Genter Capital Management. “We’ll probably be in a holding pattern for a few weeks or the rest of the summer before moving higher.”