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Dow Slides 293 Points

Markets couldn't keep up yesterday's huge rally

By Sam Gale Rosen, Newser Staff

Posted Mar 19, 2008 3:44 PM CDT

(Newser) – Stocks slid fast today as commodity prices plunged. Investors rebalanced their portfolios after pumping cash into commodities such as gold and oil for insurance against seesawing stocks, the Wall Street Journal reports. The Dow ended down 293 points to 12,099.66, the Nasdaq 58.3 to 2,209.96, and the S&P 32.2 to 1,298.54.

"This retractment in prices is warranted, given how far the market had come," says one analyst. "My computer screen is filled with nothing but red." On the bright side, Freddie Mac and Fannie Mae stocks jumped after regulators gave the firms more leeway, and Visa's initial public offering spiked more than 33%.

Trader Vincent Quinones, foreground right, gathers with other traders on the floor of the New York Stock Exchange Tuesday. (AP Photo/Richard Drew)

Stocks slid today, much like these sleds. ((c) skippy13)

Evan Solomon of Lehman Brothers MarketMakers talks to a colleague on the floor of the New York Stock Exchange, Tuesday, March 18, 2008. (AP Photo/Henny Ray Abrams)

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Oil Slips Below $35 a Barrel

Prices drop almost 8%; stocks down early on Wall Street

Oil Prices Plunge to 5-Year Low

OPEC expected to slash production to push up prices

Stocks Fall as Oil Prices Surge

American Express and UPS decline

Stocks Rally, Flatten, End Down

Oil hitting $110-a-barrel mark sure doesn't help; hopes of another rate cut rise

IBM Leads Stock Surge

Hopes for another rate cut also contributed to the rally

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Dow Slides 293 Points

Markets couldn't keep up yesterday's huge rally

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OTHER STORIES ON OUR RADAR

stock market • crude oil • gold

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Oil Slips Below $35 a Barrel

Prices drop almost 8%; stocks down early on Wall Street

Oil Prices Plunge to 5-Year Low

OPEC expected to slash production to push up prices

Stocks Fall as Oil Prices Surge

American Express and UPS decline

Stocks Rally, Flatten, End Down

Oil hitting $110-a-barrel mark sure doesn't help; hopes of another rate cut rise

IBM Leads Stock Surge

Hopes for another rate cut also contributed to the rally

About Us

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Newser By Users

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What is Newser?