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

December 2, 2008 8:52:52 PM CST

Learn about Newser Points »

« Back to the grid | Next story »

After Big Drop, Stocks Hold

Posted Sep 15, 08 11:51 AM CDT in Business 

(Newser) – Stocks have taken a beating today, with the Dow off more than 300 points early, the Wall Street Journal reports, but there’s been a noticeable lack of panic among traders. If the current loss holds steady, it will represent just the sixth-worst day this year, despite the massive upheaval of the weekend.

AIG fell 65% after asking the Fed for a $40 billion loan. Other investment banks also saw losses, particularly Bank of America—which saved the day by acquiring Merrill Lynch, but is down more than 14%. The Nasdaq was off 1.7%, and the S&P 2.5%, with all sectors declining. But doom and gloom wasn’t universal; consumer-facing giants like Coca-Cola and McDonalds saw modest gains.

Source Wall Street Journal

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

Related Newser Stories

  • Big Players Reel in Charity Spending

    Nov 25, 08 12:14 PM CST
    Big Players Reel in Charity Spending Charities used to getting much of their money from major corporations and private foundations are feeling the economic downturn, the Wall Street Journal reports. Bill Gates’ foundation plans to give fewer grants next year, and other large donors are honoring existing pledges but refusing to make new ones. “You can’t give what you haven’t got,” said AIG’s former CEO, a major donor.
    More »

  • Chinese Stimulus Lifts Dow

    Nov 10, 08 8:49 AM CST
    Chinese Stimulus Lifts Dow Stocks jumped out of the gate today, thanks to a $586 billion stimulus package from Beijing. The Dow was up nearly 200 just after opening, the Wall Street Journal reports, and the S&P and Nasdaq climbed 1.8% and 1.2%, respectively. The moves followed rallies overseas, including a 7.3% boost for the Shanghai Composite and a 5.8% boost for the Nikkei. More »

  • Stocks Rally, Clearing 9,000

    Oct 20, 08 3:33 PM CDT
    Stocks Rally, Clearing 9,000 Stocks extended earlier gains with a late-session rally today as Ben Bernanke voiced support for a new fiscal stimulus package and a key indicator showed a loosening in the flow of credit, MarketWatch reports. The Dow rose 413.21 to 9,265.43, the first time it has closed over 9,000 in 4 days. The Nasdaq gained 58.74 to close at 1,770.03, and the S&P 500 climbed 44.85 to settle at 985.40.
    More »

  • Markets Rise as Credit Eases

    Oct 20, 08 8:46 AM CDT
    Markets Rise as Credit Eases Stocks rose at the open today, as investors saw signs the credit markets are easing, the Wall Street Journal reports. The Dow rose 104 points, while the Nasdaq and S&P saw modest 1.5% and 1.2% bumps, respectively. Stocks in Europe and Asia generally rose as well. We could be “near the end of a very extreme panic,” one analyst said said, thanks mainly to government action. More »

  • Dow Falls 678 to Sub-9,000 Close

    Oct 9, 08 3:32 PM CDT
    Dow Falls 678 to Sub-9,000 Close Stocks plunged in the last hours of trading today as a number of government moves did little to shore up investors' confidence, MarketWatch reports. The Dow’s losses accelerated sharply after it dropped below the psychological threshold of 9,000 points. It closed down 678.91 at 8,579.19; the Nasdaq lost 95.21, closing at 1,645.12, and the S&P 500 fell 75.02 to 909.92.
    More »

An unidentified trader watches a screen showing Lehman Brothers stock evolution in a financial office in Paris today.   (AP Photo)
A woman walks past a tote board tracking the level of the TSX in Toronto's financial district today.   (AP Photo)
Traffic passes a branch of the Bank of America today in New York.   (AP Photo)
« Prev« Prev | Next »Next » Slideshow
Our editors also recommend:

Threads (
1
 of 2)

Tags

Financial Crisis • Dow Jones • S&P 500 • Lehman Brothers • Merrill Lynch • AIG • markets • financial sector


Loading...

Premium Articles from HighBeam

Find more articles like this

Today's Most Popular

Loading...

Other Business Stories

What is Newser?

2008 Codie Finalist

Face it: there's too much news. At Newser a team of editors and writers culls the most important stories from hundreds of U.S. and international sources and reduces them to a headline, picture, and two paragraphs. It's the Newser guarantee: we can take any report or column or video and pack what you need to know into 120 words or less. Newser's short-form aggregation, visual format, and unique information tools help you get more of the kind of news you want, in a quicker and more entertaining way. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »