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http://online.wsj.com/article/SB120574725784241355.html?mod=special_coverage
Stocks Tilt Lower Amid Drama;
Financials Skid After Bear Deal
March 17, 2008 12:29 p.m.
Stocks continued to slide downward Monday, as the fire sale of Bear Stearns and further emergency measures by the Federal Reserve to ease the strain in money markets kept acute downward pressure on financial stocks.
Futures-market activity had set the stage for a steep plunge in equity markets once the opening bell rang on Monday, and stocks did open sharply lower, with the Dow Jones Industrial Average posting a loss of more than 160 points on its intraday low, a sour follow-up to Friday’s 194-point drop.
Selling pressure dissipated somewhat by mid-morning, but stocks were tipping lower again around midday. The Dow recently traded 111.70 points down, off 0.9%, at 11839.39. The Standard & Poor’s 500 fell by 1.8%, or 22.64 points, to 1265.50, led by a 4.3% decline in its financial sector. The Nasdaq Composite Index slid 1.9%, or 41.61 points, to 2170.88.
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