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October 13, 2008 2:08:38 PM CDT

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Dow Sinks Further on Credit Jitters

Posted Jul 27, 07 4:10 PM CDT in US,  Business 

(Newser) – Stocks tumbled more than 200 points for the second day in a row, on fears that small-cap securities might be especially hard hit by a possible collapse in certain financial services. The Dow was down 208.10 to 13265.47, despite a report that the GDP grew faster this quarter than it has in a year—but the Russell 2000, which measures small stocks, dipped 1.7% into negative territory for the year.

The Nasdaq was off 37.10 to 2562.24, and the S&P retreated 23.71 to close at 1458.95, the day after a 311-point plunge on Wall Street set off tremors throughout markets in Europe and Asia. British pharma giant GlaxoSmithKline was down more than 3% after the FDA announced it was looking into a link between popular diabetes drug Avandia and heart attacks.

Source Wall Street Journal

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People leave the New York Stock Exchange after a day of heavy losses on the market Thursday, July 26, 2007 in New York. The Dow Jones Industrial Average dropped 311 points Thursday. (AP Photo/Jason...   (Associated Press)
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S&P 500  • Nasdaq  • Wall Street  • FDA  • stocks  • GDP  • GlaxoSmithKline  • Avandia


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