With a sharp decline in the indices started the week on the New York Stock Exchange.
“Next week will be very volatile, as investors were frustrated by the debt problems of Europe and the debate on lifting the ceiling of U.S. debt”, said Paul Nolte of MarketWatch, Managing Director of Dearborn Partners.
An hour and a half after the beginning of the session Dow Jones tumbled 1.24 percent to 12,325 points, S & P 500 1.23% wiped by 1 299 points, while Nasdaq lost 1.39 percent to 2751 points. A spokesman for Republicans in the House of Representatives John Bonner said that his party will not accept any tax increases. Republicans will insist on a firm commitment to shrinking government budget deficit of the United States to reach agreement on the debt ceiling. This week is to go and more corporate accounts. Only the companies included in the S & P 500, 100 will announce its financial results.

The crude oil price is back above 97 dollars a barrel on the New York Stock Exchange after yesterday falling to its lowest level last week. The reason for this was speaking of Saudi Arabia that may cover the supply of oil, damaged because of the riots in Libya. According to the CEO of oil company Saudi Arabian Oil Khalid Al-Bankruptcy Libya continues to export oil despite the tense situation in the country. Because of the rapid increases in oil prices International Energy Agency (IEA) said last week it was ready to provide emergency supplies of raw material in case of shortage. The U.S. light crude for delivery in April, rising by 0.6 percent to 97.57 dollars a barrel in electronic trading today in New York. The price yesterday fell 91 cents to 96.97 dollars per barrel, its lowest level since Feb 22nd. The U.S. light crude rose 5.2 percent in February and by 23% over the past 12 months. The Brent obtained from the North Sea, rising by 0.5 percent to 112.35 dollars a barrel in London. The price yesterday fell 0.3 percent, but ended months with strong growth of 11%. The Brent rose more than U.S. light crude for the greater dependence of European countries by the oil supplies from Libya. A Bloomberg’s survey shows that oil production in Libya in February fell to its lowest level in eight years. It fell by 200 thousand barrels per day to average 1.385 million barrels. The civil riots from Morocco to Bahrain led to the resignation of state leaders in Tunisia and Egypt.
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The Oil price increase over the past day, which probably will offer a weekly rise of raw material. Appreciation gave rise to speculation that demand for oil in China will increase along with the acceleration of economic growth. On the New York Stock Exchange yesterday, with oil delivery in April ended the session with a minimum increase of 2 cents to 82.11 dollars a barrel this morning quotes add another 0.1 percent to 82.20 dollars per barrel. The price of black gold is moving with an increase of 0,9 percent for the week after the previous increase was reported from 2,3 per cent. Yesterday the price of oil make change direction several times, which was caused by movements in foreign exchange markets. They even were influenced by a series of news about the trade deficit and initial unemployment in the United States. This morning the currency pair euro / dollar is quoted at 1.3694 EUR / USD, which represents a minimal increase for the euro.
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