Fall Street Continues: Dow down by 679 Points
Even the bailout couldn't prevent this from happening. Then again, what quick bill, no matter how big it is, can prevent the last eight years of terrible policies and practices from happening?
But really though, it isn't surprising. And the same could be said if the same thing, or worse, happens tomorrow.
A runaway train of a sell-off turned the anniversary of the stock market peak into one of the worst days in Wall Street history Thursday, driving the Dow Jones industrials down a breathtaking 679 points and deepening a financial crisis that has defied all efforts to stop it.
Stocks lost more than 7 percent, $872 billion of investments evaporated, and the Dow fell to 8,579. When the average crashed through the 9,000 level for the first time in five years in the final hour of trading, sellers had only begun to hit the gas pedal.
As bad as the day was, even worse was the cumulative effect of a historic run of declines: The Dow suffered a triple-digit loss for the sixth day in a row, a first, and the average dropped for the seventh day in a row, a losing streak not seen since 2002.
But really though, it isn't surprising. And the same could be said if the same thing, or worse, happens tomorrow.
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