Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook
Uproar After NC State Agent 'Fixes' Girl's Lunch Preschooler has to eat chicken nuggets instead of mom's meal »

Dow Down 700, Hits 4-Year Low

'This is just about fear right now'

By Kevin Spak,  Newser Staff

Posted Oct 6, 2008 1:58 PM CDT
Email

(Newser) – Stocks continued downward today, with the Dow falling a record 782 points, the Wall Street Journal reports, and settling mid-afternoon around 9,571, below 10,000 for the first time since October 2004. “This is just about fear right now, and whether stocks are going to close down 200 or 900 points,” said one trader. All 30 of the index's stocks were in the red.

The S&P and Nasdaq also tumbled, down 7.94% and 8.53% respectively. The fall came despite both the bailout plan and more moves by the Fed to ease markets by paying interest on commercial bank reserves and expanding its lending program. “It's hard to be bullish based on monetary policy or bailouts alone,” said one market researcher.

A man passes the New York Stock Exchange on Oct. 2, 2008.
A man passes the New York Stock Exchange on Oct. 2, 2008.   (AP Photo)
Traders watch on the floor of the New York Stock Exchange as the bailout bill vote is cast in the US House of Representatives, Oct. 3, 2008.
Traders watch on the floor of the New York Stock Exchange as the bailout bill vote is cast in the US House of Representatives, Oct. 3, 2008.   (AP Photo)
Specialist John Bowes watches the screens at his post on the New York Stock Exchange floor.
Specialist John Bowes watches the screens at his post on the New York Stock Exchange floor.   (AP Photo)
« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.
A snapshot of the day's best news stories.
 
COMMENTS
Be the first to comment on this story.

Nowhere to run in terrible market
TheStreet

Fed pumps billions more into banks
CNN

 
stock market • Citigroup • Federal Reserve • Dow Jones • Wachovia • Wells Fargo • global market • European markets • FTSE • bailout • HBOS • financial crisis

More Newser Stories

Foreign Banks Got Majority of Secret Fed Loans

Typo, Glitches, Panic Blamed for Stock Market Mayhem

Pay Czar to Examine Salaries at Bailed-Out Firms

Fed Duo Sounded Alarm Over AIG 'Gifts' to Banks

US Banks Paid Employees Record $145B in 2009
NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne