Stocks Fall After Obamacare Ruling

JeeYeon Park
June 28, 2012

Stocks were down more than 1 percent across the board Thursday after the U.S. Supreme Court upheld a key part of President Obama’s health care overhaul.

Stocks had opened lower amid skepticism that European leaders would be able to form a solution to tackle the ongoing debt crisis.

The Dow Jones Industrial Average fell sharply, led by JPMorgan and Intel, after finishing higher for the second day in the previous session.

The S&P 500 and the Nasdaq also dropped more than 1 percent. The CBOE Volatility Index, widely considered the best gauge of fear in the market, jumped above 21.

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