Perseverance pays off in 2010 after rocky start

Perseverance pays off in 2010 after rocky start ; Investors who stuck with the stock market in 2010 saw double-digit percentage gains for the year. The Dow and S&P fended off fears of a double-dip recession and the lackluster consumer spending that punctuated much of 2010.

"The first half of the year we would love to forget, but the second half turned out very well," David Donabedian, chief investment officer of Atlantic Trust, said. The Dow Jones industrial average rose 11 percent for the year, closing at 11,577.51. The Standard & Poor's 500 index ended the year up 12.8 percent at 1,257.64. The Nasdaq composite index was up 16.9 percent for the year, closing at 2,652.87.

Markets tumbled during the first half of the year as investors feared that European countries such as Greece and Ireland would default on debt and drag the economy into a double-dip recession. Election uncertainties also weighed heavy.

In May, a sudden crash caused by an error in a trading program used by one company sent the Dow down to a loss of nearly 1,000 points in less than a half-hour, bringing back memories of the 2008 financial crisis.Read More... For the latest updates PRESS CTR + D or visit Stock Market news Today

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