Dow Drops Below 7000

By Kevin Spak,  Newser Staff
Posted Mar 2, 2009 8:45 AM CST
Dow Drops Below 7000
People walk to work in the snow as they pass the flag-draped New York Stock Exchange Monday, March 2, 2009.   (AP Photo/Mark Lennihan)

Stocks sunk below 7000 at the open today, extending a global selloff fueled by trouble in financials. The Dow was off 161 points by mid-morning, while the S&P tumbled 2.5%, the Nasdaq 1.9%. Bad news abounded, with HSBC saying it planned to limit US lending, AIG’s bailout expanding, and Warren Buffett telling investors that the economy would be in “shambles” this year. (More stock market stories.)

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