Now, that’s a drop in the stock market. Over 300 points! I’m guessing that the economic stimulus package that Bush pushed through Congress ain’t workin’.
U.S. stocks fell sharply today, closing at a low not seen since September 2006, after oil prices spiked and a round of negative corporate news undermined confidence in the technology sector and anticipated further trouble among U.S. banks and brokerage firms.
The Dow Jones industrial average was down more than 358 points at 11,453, a 3 percent drop. The tech-heavy Nasdaq experienced an even steeper decline, losing 3.3 percent, or nearly 80 points, to close at 2,321. The Standard & Poor’s 500-stock index was also down about 2.9 percent, with a 39-point decline to 1,283. (more…)