Mixed Results Cap Ugly June

Month was 'something like the worst since the Great Depression,' analyst says

By Sam Gale Rosen, Newser Staff

Posted Jun 30, 2008 3:39 PM CDT

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Mixed Results Cap Ugly June — Traders work the crude oil options pit of the New York Mercantile Exchange Monday, June 30, 2008. (AP Photo/Mary Altaffer)

Stocks ended mixed today—the last day of the second quarter—and couldn't prevent the Dow and S&P from their worst June since the Great Depression, CNNMoney reports. The Dow ended up 3.50 today, to 11,350.01; the Nasdaq was down 22.65 to 2,292.98, and the S&P up 1.62 to 1,280.00. Each of the major indices was down at least 8.6% for the month.

Oil retreated from a $143-a-barrel record hit early in the session, providing some relief, the Wall Street Journal reports. Financials remained a drag on the rest of the market; as one analyst put matters, "It being quarter end, a lot of window dressing is driving things. It's no coincidence financials are weak and commodities are strong." (Read more stock market stories.)