CLOSING BELL

Dow 11178.73  -24.82, Nasdaq 2532.02  +13.90,S&P 1197.85  -1.88

News of Ireland’s bailout and FBI raids at several hedge funds left traders on the sidelines for the day.

Over the weekend Ireland announced that they would seek aid from the EU and IMF in an attempt to improve their financial state.  At first the market saw this as a positive, but then the focus turned to Portugal and Spain as traders became worried about a domino effect running through the EU.

This also led to a stronger dollar and the selloff.

Financials were the loser today not only because of the Ireland news, but additional stories of FBI raids at several billion dollar hedge funds for insider trading activities. The Financial sector ended down -1.4%.

The tech sector was the winner today, up +0.66. The most active winners were: Novell  (NOVL) 5.96 +0.37, +6.62, Apple (AAPL) 313.36 +6.63, +2.16%, Hewlett-Packard (HPQ) 43.25, +0.76, +1.76%, Microsoft (MSFT) 25.73 +0.04, +0.16%.

Advancing Sectors: Tech +0.66%, Consumer Discretionary +0.3%, Utilities +0.2%, Materials +0.2%
Declining Sectors: Financials -1.4%, Energy -0.4%, Telecom -0.3%, Industrials -0.3%, Consumer Staples -0.1%
Unchanged: Health Care