MARKET OPENER
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Spooked Stocks Dip Slightly
Scary Halloween ahead for Wall Street?
By Kevin Spak
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Posted Oct 31, 08 8:51 AM CDT
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(Newser)
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Stocks took a small slide this morning, as spooked investors bid farewell to one of the worst months in market history. The Dow fell 21 points, while the S&P and Nasdaq were off 0.3% and 0.9% respectively, the Wall Street Journal reports. Among the scary news was a predictably grisly consumer spending report, which took its biggest hit in four years, and a slashed outlook from Electronic Arts.
Overseas, the Bank of Japan cut interest rates just 0.2%, rather than the 0.25% many expected, sending the Nikkei down 5%. Domestically, markets have been strong in recent days, but barring a huge rally today, October will still go down as the worst month for the market since 1987, and the 11th worst in history.