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02-20-2009, 09:53 PM | #1 |
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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." Article continues: http://www.google.com/hostednews/ap/article/ALeqM5gHs5OM3gFG_DytQQZFbWfgPT08MAD96F1M5O0 |
02-22-2009, 05:38 AM | #2 |
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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. |
02-22-2009, 09:58 AM | #3 | |
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Join Date: Sep 2008
Location: Turtle Island
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Re: Dow ends at lowest close in more than 6 years
Quote:
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 Last edited by peaceandlove; 02-22-2009 at 09:15 PM. |
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