Stocks Plummet on Global Panic

By Kevin Spak,  Newser Staff
Posted Feb 17, 2009 8:54 AM CST
Specialist Bradley Kebbler works on the floor of the New York Stock Exchange, Tuesday, Feb. 10, 2009.   (AP Photo/Richard Drew)
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(Newser) – Stocks fell at the open, as investors continued to fret about the financial system. The Dow dropped 150 points, while the Nasdaq and S&P lost around 2.9% each. The declines follow similar losses overseas, with the Nikkei down 1.4%, the Shanghai Composite down 2.9% and the FTSE 100 down 2%. Gold climbed to a 7-month high as traders scrambled for safety.