Stocks Droped 6% in May

U.S. stocks finished the month with sizeable losses, with all three indexes off 6% or more during May, marked by worries over Europe’s mounting credit problems. The Dow Jones industrial average was down 26.41 points, or 0.21 percent, at 12,393.45. The Standard & Poor’s 500 Index was down 2.99 points, or 0.23 percent, at 1,310.33. The Nasdaq Composite Index fell 10.02 points, or 0.35 percent, at 2,827.34. For the month, the Dow fell 6.2 percent, the S&P 500 lost 6.3 percent and the Nasdaq fell 7.2 percent.

The Wall Street Journal reported that the IMF’s European department has started initial planning on a loan for Spain, given that the country is having a hard time finding the money necessary to bail out troubled lender Bankia SA (STN:ES:BKIA).

Vera Bradley Inc.’s (NASDAQ:VRA) fiscal first-quarter earnings increased 12% as revenue improved, with strong gains in direct sales. Vera Bradley Inc.’s (NASDAQ:VRA) fiscal first-quarter earnings increased 12% as revenue improved, with strong gains in direct sales.

Crude-oil futures fell Thursday and ended the month sharply lower, pressured by lingering worries about global demand against a backdrop of European debt troubles and mostly disappointing economic data. The July contract for light, sweet crude oil  fell $1.29, or 1.5%, to $86.53 a barrel on the New York Mercantile Exchange, its lowest settlement since Oct. 20.

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