Top 3 Reasons Markets Crashed with Greece

Markets closed down on Wall Street: Dow -1.48%, S&P -1.74%,  Nasdaq -1.76%, Crude -4.21%, Gold +0.57%.

On the commodities front, Oil (NYSE:USO) got hammered and closed at $95.19 after more stop-loss triggers fired off. On the other hand, precious metals (NYSE:DBP) did great as investors fled from currencies. Gold (NYSE:GLD) headed back to $1,532.50 and Silver (NYSE:SLV) also caught a bid.

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Today’s markets were down because:

1) The Achilles Heel is back. Greece has stormed back into the spotlight with drama, violence, and money. It’s a terrible scene and investors are selling everything and asking questions later. Don’t Miss our complete Cheat Sheet to the unfolding situation in Greece.

2) Pandora, Pandora, Pandora. Like LinkedIn (NYSE:LNKD), Pandora Media (NYSE:P) has become an addiction for IPO fiends. The only question left to ask Is Pandora Really Worth $22 a Share?

3) US economic data was stagflationary. This morning we learned builder confidence is down (NYSE:XHB) while consumer prices continue to rise. Another data set investors didn’t want to see on a day like today.

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