Dow Plunges Nearly 300

Global markets set losing tone for NYSE
By Nick McMaster,  Newser Staff
Posted Feb 17, 2009 3:14 PM CST
James McGuire Sr., looks at an overhead monitor from the floor of the New York Stock Exchange, Tuesday, Feb. 17, 2009, in New York.   (AP Photo/Henny Ray Abrams)
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(Newser) – Stocks plunged today as President Obama signed the economic stimulus package into law, MarketWatch reports. With a negative tone set by losses in the overseas stock markets, financials led declines, with Bank of America, Citigroup, JP Morgan Chase, and American Express all down at least 9%. The Dow lost 297.81 points to close at 7,552.60, less than a point off the five-year low on Nov. 20, notes the Wall Street Journal. The Nasdaq fell 63.70 points, settling at 1,471, and the S&P 500 dropped 37.66 points to close at 789.