Stocks Plunge Again; Dow Under 9,000

A late-day decline once again pushed the markets down sharply, with the Dow falling more than 600 points.

Thursday, October 9, 2008

The Dow Jones industrial average lost 678.91 points, or 7.3 percent, on the day, while the broader Standard & Poor’s 500-stock index ended down 7.6 percent. The technology-heavy Nasdaq was down 5.47 percent.

And the reasons, by now, are a familiar litany — concerns about the credit markets, a slowdown in consumer spending, worries about the economy as a whole and the financial sector in particular.

Thursday’s decline came despite a coordinated effort by central banks around the world to lower a crucial benchmark lending rate.

“The market is in show-me mode. There’s a crisis of confidence. I feel we’re going to have gloomy headlines for ...

More on this topic

Stocks Soar by 11% After Aid to Banks

October 2008

The Dow Jones industrial average opened 400 points higher and never looked back, led by big gains in financial stocks.

Last week’s stock sell-off gave way to a big rally, with the Dow Jones industrial average having its largest-ever point gain. The surge came as countries around the world took steps to ease the financial crisis, ushering in a drastic reshaping of the banking industry even as doubts lingered about its long-term effects.

Stocks Lower After Day of Wild Swings

October 2008

On Friday, the Dow closed down about 100 points, its eighth consecutive decline.

Between the start and the finish was a day in which the Dow Jones industrial average swung 1,000 points and a wild final hour in which the market moved from almost 400 points down to 300 points higher, only to close down 128 points or 1.4 percent.

Chaotic Day Ends With Stocks Off 3.8%

October 2008

Panic came to Wall Street on Monday morning, but its stay was brief, at least for one day.

The Dow Jones industrials finished more than 360 points lower, dropping below the 10,000 mark for the first time in five years, as markets around the world spiraled downward in the face of a banking crisis that has tightened its grip on the global economy.

Wall Street continues to rise while it awaits approval of the Paulson Plan

September 2008

The New York Stock Exchange was rising after its historic fall yesterday in hopes that the rescue plan will finally be approved.

At 16H00 GMT, the Dow Jones Industrial Average (DJIA) rose 266.74 points to 10,632.19 after having fallen close to 800 points on Monday.

The Nasdaq index, which is made mainly of technology companies, rose 62 points to 2,045.73 units and Standard's and Poor's 500 rose 3.21% (35.57) to 1,141.99.

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