Markets initially calm on news, but Dow ends day below 9,000 level
WASHINGTON - Calm gave way to fear in financial markets Thursday, turning a relatively steady day into a rout that pushed the Dow Jones industrials below 9,000 for the first time in five years.
Investors, who had begun the day somewhat optimistic that the government was taking extraordinary steps to contain the financial crisis, turned gloomy under an onslaught of worries about the economy and corporations.
Shares of General Motors Corp., one of the 30 stocks that make up the Dow, tumbled 28 percent to their lowest since 1950. The Dow itself shed almost 7 percent, or more than 600 points, to 8618.69. Broader indexes also fell.
Read full story MSNBC
Posted by Phoenix, Arizona Personal Injury Lawyers
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment