From Bloomberg.com:
U.S. stocks sank and benchmark indexes slid to their lowest levels since 2003 on growing concern over the health of the financial system and survival of the nation's car industry.
Citigroup Inc. slid 23 percent to $6.40, a 13-year low, on a plan to buy $17.4 billion of troubled investment-fund assets. General Motors Corp. tumbled 9.7 percent to its lowest price since the 1940s, while Ford Motor Co. lost 25 percent. Fourteen companies in the Standard & Poor's 500 Index fell 20 percent or more as government data signaled the recession is deepening.
"Hideous day,'' said Bill Stone, who oversees $56 billion a chief investment strategist at PNC Wealth Management in Philadelphia. "It's hard to put a basement on this thing.''
The S&P 500 slipped 6.1 percent to 806.58, extending its 2008 retreat to 45 percent. The Dow Jones Industrial Average lost 427.47 points, or 5.1 percent, to 7,997.28. The Nasdaq Composite Index decreased 6.5 percent to 1,386.42. Twenty-eight stocks fell for each that rose on the New York Stock Exchange.
1 comment:
Your blog is wicked!! (And no, I'm not a Republican God toting neonut)
You just gave me some widget ideas: I was wondering if Last FM had any and, boom!, there you were.
But more importantly, I love to let the facts talk: the war on drug and Iraq war disgusting total spoliation are in those numbers. You'll see them on my side of the web world pretty soon.
Keep it up!
Cass
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