Dow ends at lowest close in more than 6 years
 

Dow ends at lowest close in more than 6 years

By TIM PARADIS – 18 hours ago

Source: http://campaignforliberty.com

NEW YORK (AP) — An important psychological barrier gave way on Wall Street Thursday as the Dow Jones industrials fell to their lowest level in more than six years.

The Dow broke through a bottom reached in November, pulled down by a steep drop in key financial shares. It was the lowest close for the Dow since Oct. 9, 2002, when the last bear market bottomed out.

The blue chips' latest slide dashed hopes that the doldrums of November would mark the ending point of a long slump in the market, which is now nearly halfway below the peak levels reached in October 2007.

The market's inability to rally signals that investors see no immediate end for the recession, which is already 14 months old and one of the most severe in decades. Investors also haven't been impressed with two major economic initiatives from the Obama administration this week, an economic stimulus package and a mortgage relief plan.

"It is definitely, definitely a blow to psychology," said Quincy Krosby, chief investment strategist at The Hartford, referring to the Dow's finish. "There is more pessimism in the market as to when the economy is going to pick up steam."

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Re: Dow ends at lowest close in more than 6 years
 

Let it crash.

I do not care for the stock market. I never have.

Re: Dow ends at lowest close in more than 6 years
 

Right, let it crash I agree, but people want to know this is happening so they can make plans accordingly. Plenty of people are finding it necessary to make some economic moves and the sooner they have the information to do this the better off they are.

Are you misunderstanding the reason for my posts?

We are in a very volatile time and having timely, pertinent information is crucial to economic and personal survival.

Peace