Wednesday, November 19, 2008

Dow Dips 427.47 Points Closing Below 8,000

The markets hit nearly five year lows today with the Dow dropping 427.47 points to close at 7,997.28. That is obviously below the 8,000 point mark. The Dow, Nasdaq, and S&P 500 all lost between 5% and 6.5%. The financial crisis has destroyed just under $6.7 Trillion in the S&P 500 alone. The "tr" before the "illion" is no typo. To put that number in perspective, it is more than the total economic output of most countries was for an entire year before this crisis hit.


http://news.yahoo.com
http://news.yahoo.com/s/ap/wall_street;_ylt=AnhNZCAEpQAFPJDVrdT6rgAVkmwF

"The S&P 500, widely considered the broadest snapshot of corporate America, slipped 6.12 percent to 806.58; and the Dow gave up 5.07 percent to 7,997.28. Both closed at their lowest levels since March 2003.

The financial crisis has already wiped out $6.69 trillion of value from the S&P 500 since its October 2007 high, and many fear more is to come.

...

Market Summary
Symbol Last Change
Dow 7,997.28 -427.47 -5.07%
Nasdaq 1,386.42 -96.85 -6.53%
S&P 500 806.58 -52.54 -6.12%
"

No comments:

Post a Comment

Related Posts with Thumbnails

Like what you read; Subscribe/Fan/Follow