Thursday, February 19, 2009

Dow Jones: 6 Year Low

The Dow Jones industrial average slumped to a more than 6-year low Thursday, as fears of a prolonged recession sent stock investors heading for the exits.

Treasury prices slid, boosting the corresponding yields, as investors sought safety in government debt. The dollar was mixed versus other major currencies. Oil prices spiked 14%, while gold prices dipped.

The Dow Jones industrial average (INDU)slid 88 points, or 1.6%, according to early tallies, closing at the lowest point since Oct. 9, 2002, the low of the last bear market. The Dow had dropped as low as 7,447.55 during the session.

The Standard & Poor's 500 (SPX) index lost 9.5 points, or 1.2% and closed at its lowest point since Nov. 20, seen as the low of the current bear market.

The Nasdaq composite (COMP) shed 25 points or 1.7%.

read the CNN story

No comments: