U.S. stocks ended July with a more than 300-point selloff for the Dow Jones Industrial Average, a swoon that snapped a five-month winning streak for the broader market.
Traders said there was no single catalyst for the stumble, though selling started early and accelerated into Thursday’s closing bell, dragging the Dow into negative territory, down 0.1%, for 2014.
Monsanto didn’t achieve $11.8 billion in sales and 404 facilities in 66 countries all on its own.
The company is valued at $60 billion in the marketplace with 525 million shares outstanding, but the three largest mutual fund shareholders, Vanguard, Fidelity and State Street, own nearly 16 percent of Monsanto stock. By comparison, the seed giant’s CEO Hugh Grant owns less than 1 percent.
Criminal gangs who trick people into investing in worthless shares have been targeted by police in the biggest ever international crackdown on the fraud. The operation resulted in 110 arrests – mostly in Spain and the UK.
Police targeted the masterminds and facilitators of the “boiler room” fraud – so-called because of the cramped conditions they work from. There are 850 confirmed victims of the gangs in the UK, but the real figure is likely to be in the “multi-thousands”.