Stock bloodbath continues: Dow drops as much as 1,089 points: "NEW YORK — Stocks plunged at the open as the market bloodbath showed no signs of letting up with the Dow tumbling as much as 1,089 points in the opening minutes of trading.
The Standard & Poor's 500 index plunged 4.4% as the broad-based index joined the Dow in correction territory, a drop of 10% or more from its recent high. The Nasdaq composite index dropped 5% and also fell into a correction.
Market anxiety is on the rise after a big sell-off in China overnight, where the Shanghai composite index shed 8.5%, its biggest one-day decline since 2007 — and Chinese media were dubbing the selloff "Black Monday." The global stock rout then moved to Europe where major indexes there are off roughly 5%."
'via Blog this'
No comments:
Post a Comment