Dow Sinks Further on Credit Jitters

GDP report, earnings, can't stave off 208.10 point slide
By Greg Atwan,  Newser User
Posted Jul 27, 2007 4:10 PM CDT
A board on the floor of New York Stock Exchange, Thursday, July 26, 2007, shows the closing numbers. Wall Street suffered one of its worst losses of 2007 Thursday, leading a global stock market plunge...   (Associated Press)
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(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.