Warning Signs Sink Stocks

It's bad, Jim
By Kevin Spak,  Newser Staff
Posted Dec 3, 2008 8:40 AM CST
Trader David O'Day works on the floor of the New York Stock Exchange, Tuesday Dec. 2, 2008.   (AP Photo/Richard Drew)
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(Newser) – Stocks took a tumble at the open today, thanks in part to a private report saying the economy shed 250,000 non-governmental jobs last month, and signs of slowing consumer spending. The Wall Street Journal reports that all 30 Dow stocks were trading lower, bringing the index down 145 points, while the S&P fell 2% on declines in every sector.

Research in Motion, makers of the BlackBerry, slashed its fourth-quarter forecast, and saw shares drop 3%. That weighed down the tech-heavy Nasdaq, which fell 2.3%. On the positive side, Constellation Energy Group shot up 16% on news that Electricite de France would attempt to outbid Berkshire Hathaway to acquire it.