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
no, you are a poor peasant
Your taxes will go down. But you dont care. You willingly pay higher taxes to your wealthy masters because you think that an ignorant fool like you will be one of them someday. They laugh at you.
- parent
By hufflarry2000October 15, 2008 - 6:25pm