Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 24, 2008 7:31:52 AM CDT

Learn about Newser Points »

« Back to the grid | Next story »

Investor Worries Sink Stocks

Posted Nov 21, 07 3:47 PM CST in Business 

(Newser) – Worries over the credit market's effect on the broader economy resurfaced in a big way today as stocks sank, swamped by yesterday's newly glum growth forecast from the Federal Reserve. Other economic data released today were similarly bleak. "The index of leading indicators was a pretty lousy number," says a bank exec. The Dow was down 211.10 to 12,799.04, the Nasdaq 34.66 to 2,562.15, and the S&P 22.93 to 1,416.77.

Big financials fell hard today, with American International, American Express, JP Morgan, and Citigroup all slipping in response to the subprime mess. The one positive bit of news on the day was a drop in unemployment, but that did little to reassure investors, reports the Wall Street Journal. "If there was a silver lining, that was it," says a strategist.

Sources Wall Street Journal, Bloomberg, CNN, Financial Times (UK)

0 comments | Print E-mail | Digg Seed this on Newsvine Add this link to Del.icio.us StumbleUpon

Related Newser Stories

  • Tech Firms Buoyed by Demand Abroad

    Jul 18, 08 8:53 AM CDT
    Tech Firms Buoyed by Demand Abroad The tech sector keeps rolling even as the overall economy continues to flail, the Wall Street Journal reports. Four of tech’s giants, Microsoft, Google, IBM and Nokia, posted quarterly results yesterday, riding high on developed nations’ need for cost-saving technologies and emerging economies’ demand for infrastructure upgrades as the Internet and cell phones enjoy wider use in the developing world. More »

  • SEC Will Limit Short Sales of Finance Stocks

    Jul 16, 08 9:48 AM CDT
    SEC Will Limit Short Sales of Finance Stocks The SEC will step in to police naked short-selling of 17 financial firms, as well as Fannie Mae and Freddie Mac, the Wall Street Journal reports. The agency said it plans to impose short-term, emergency rules on Monday that curtail traders betting on the stocks to drop, worried the short selling is worsening the crisis in the financial sector. More »

  • Stocks Rebound on GM News

    Jul 1, 08 3:31 PM CDT
    Stocks Rebound on GM News Stocks rebounded from an early slump today after a better-than-expected sales report from General Motors, the Wall Street Journal reports. The GM news also pushed up stocks of other troubled automakers. The Dow ended up 32.25 at 11,382.26, the Nasdaq up 11.99 at 2,304.97, and the S&P 500 up 4.91 at 1,284.91. More »

  • A Year On, Credit Crisis Lingers

    Jul 1, 08 7:09 AM CDT
    A Year On, Credit Crisis Lingers Despite assurances from some experts that the credit crisis would be short-lived, the forecast remains bleak after more than a year of frustrations, the New York Times reports. In a “vicious circle,” falling home prices lead to more bad loans, which makes credit harder to get so that fewer people can buy homes, Vikas Bajaj writes. Yesterday, the stock market finished its roughest 12 months since 2003. More »

  • Mixed Results Cap Ugly June

    Jun 30, 08 3:39 PM CDT
    Mixed Results Cap Ugly June Stocks ended mixed today—the last day of the second quarter—and couldn't prevent the Dow and S&P from their worst June since the Great Depression, CNNMoney reports. The Dow ended up 3.50 today, to 11,350.01; the Nasdaq was down 22.65 to 2,292.98, and the S&P up 1.62 to 1,280.00. Each of the major indices was down at least 8.6% for the month. More »

Kachina, a four-year-old female grizzly bear, eats treats as she plays with a pumpkin at the San Francisco Zoo, Wednesday, Oct. 24, 2007. The bear treats are part of the Zoo's annual Halloween "Boo at...   (Associated Press)
A grizzly bear rest on a large ball in it's pool at the St. Louis Zoo Sunday, Aug. 12, 2007. Temperatures in the St. Louis area reached 100 degrees. (AP Photo/James A. Finley)   (Associated Press)
(FILES)Traders crowd the floor of the New York Stock Exchange.   (Getty Images)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (1 of 1)

Tags

stock market


Loading...

Loading...

Today's Most Popular


Other Business Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »