Dow(n)! Weak Manufacturing and Retail Drive Woe
Flickr: Creative Commons by Jef Poskanzer
The Dow Jones Industrial Average followed global markets down the rabbit hole again today, with weak manufacturing numbers and tepid retail figures driving the market down as fears of a recession took hold first in Europe and then in US markets.
At the closing bell, the Dow was down more than 730 points, with the Nasdaq off by 150 points. The net effect is possibly the market re-testing the bottom of 8500 established last week. The question mark here is whether of not that bottom will hold.
Look to Asia overnight for the answer.
- FILED UNDER: Finance, $700 Billion Bailout, Economy, Fed, Wall street
- October 15, 2008
Dems say
"No big deal, we'll just tax ourselves back to good economic health".
The trouble is, many believe this is possible. Of course these people are products of public schools.
The Obama presidency will be the handle that flushes this country down the crapper.
- parent
By its_so_overOctober 15, 2008 - 6:14pm