The markets saw losses today, battered by continued worries over the solvency of mortgage guarantors Fannie Mae and Freddie Mac and a fresh spike in crude prices, MarketWatch reports. The Dow fell 128.48, to 11,100.54. The Nasdaq shed 18.77, closing at 2,239.08, while the S&P 500 lost 13.90 to close at 1,239.49.
Global supply concerns drove oil to an intraday record of $147 a barrel, although it closed at $145. "Here we go again," one analyst told the Wall Street Journal. "Just when the bears gather enough courage to peek out from underneath their rock, the bulls squash them like a bug, again."
- For the week, the Dow lost 1.6%, the Nasdaq shed 0.3%, and the S&P 500 fell 1.8%.