BREAKING NEWS!!!!--Dow falls sharply amid fears of deepening recession, by Biodun Iginla, BBC News, Paris, France
by Biodun Iginla, BBC News, Paris, France
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Wednesday, November 19, 2008 -- 4:15 PM ET/9:15 PM GMT/UTC/ZULU
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As hope for an emergency bailout faded Wednesday for American
automakers, shares on Wall Street began to slide. The Dow
Jones industrial average was down 427.47 points, or 5
percent, settling below 8,000, while the broader Standard &
Poor's 500-stock index was 6.1 percent lower. The
technology-heavy Nasdaq composite index was down 6.5 percent.
"It's painful," said Howard Silverblatt, senior index analyst
at Standard & Poor's. "A lot of people have pulled a lot of
cash out. They're sitting on the side. It's all I hear all
day: 'Where can I hide?'."
Read More:
http://www.nytimes.c
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