Skip to: Content
Skip to: Site Navigation
Skip to: Search
THURSDAY, NOVEMBER 26, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter


 MARKETS 
0

Dow Falls 427 to Below 8,000

Bad news in housing and predictions of recession sour stocks

Share

(Newser) – Stocks plunged today on a spread of bad economic news, including signs that the housing market is not improving and dire predictions by the Federal Reserve’s interest-rate committee, the Wall Street Journal reports. The Dow fell 427.47 to close at 7,997.28. The Nasdaq lost 96.85, settling at 1,386.42, while the S&P 500 shed 52.54 to close at 806.58.

Newly released minutes from the Federal Open Market Committee’s meeting showed that its members predict that the US would see four quarters of shrinking GDP, and indicated that further interest-rate cuts are possible at its next gathering. There’s now a “genuine risk that the US economy could fall into a corrosive deflationary phase,” one analyst tells the Financial Times.

Trader Michael McCabe works on the floor of the New York Stock Exchange.
Trader Michael McCabe works on the floor of the New York Stock Exchange.   (AP Photo)
Traders work on the floor of the New York Stock Exchange in this undated file photo.
Traders work on the floor of the New York Stock Exchange in this undated file photo.   (Getty Images)
« Prev« Prev | Next »Next » Slideshow

It's very disconcerting to the man on the street to see these corporate icons having such massive problems. People are really having to re-evaluate entire investment programs. - Randy Bateman, Huntington Funds.

« Prev« Prev | Next »Next » Slideshow
OFF THE GRID
11.24.09
Murdoch and Microsoft: The Mice Are Trying to Roar
11.23.09
Books Are Bad for You
0 comments
VIEWING:
 
LEAVE A
COMMENT Comment Policy
Facebook ConnectPost this comment to Facebook?

After connecting you will have the option to post your comment on your Facebook profile.

 

Related Newser Stories

533 Stories

MARKETS

 Dow Up 31 on Jobs, Income 

Weekly jobless claims hit 14-month low

Nov 25, 09 3:08 PM CST
(Newser) - Stocks saw solid gains as positive data on personal income and jobless claims raised hopes for a solid post-Thanksgiving shopping season, the Wall Street Journal reports.
  • The Dow rose 31 points, closing at 10,464.
  • The Nasdaq gained 7 points, settling at 2,176.
  • The S&P
... More »

MORE ABOUT:
Dow Jones • Nasdaq • S&P 500

MARKETS

 Dow Drops 17 Points  

Home prices rise but fail to meet expectations

Nov 24, 09 3:17 PM CST
(Newser) - Stocks almost managed to recover from steep losses suffered early in the day but ended in the red. Among the factors: China signaled it's ready to tighten credit, and September home prices rose but less than expected, the Wall Street Journal reports.
  • The Dow closed down 17 points at
... More »

MORE ABOUT:
Dow Jones • Nasdaq • S&P 500

MARKETS

 Up 133, Dow Hits New '09 High

Data on home resales spur rally

Nov 23, 09 3:18 PM CST
(Newser) - Stocks rallied today on news that home resales jumped 10.1% in October and comments from the president of the St. Louis Fed reaffirming the government's extended commitment to support the credit markets, the Wall Street Journal reports.
  • The Dow jumped 132.79 points to close at 10,450.
... More »

MORE ABOUT:
Federal Reserve • Dow Jones • home sales • Nasdaq • existing home sales • S&P 500 • existing-home sales

533 Stories


Applications for mortgages fall to 8-year low
Reuters

FOMC meeting predicts shrinking economy through mid-2009
Bloomberg

Citigroup agrees to buy remaining structured investment vehicle assets
Investment News


Business 
TwitterFollow @NewserBusiness on Twitter

 
housing market • Dow Jones • Consumer Price Index • Nasdaq • interest rate • consumer prices • Federal Open Market Committee • S&P 500 • FOMC • financial crisis

from our news partners