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THURSDAY, NOVEMBER 26, 2009
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 MARKETS 
9

Stocks Plummet; Dow Falls 281

Dow blows by Tuesday low

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(Newser) – Stocks fell today, with the Dow passing the bear-market low it set Tuesday, and two giants of US banking and manufacturing trading at less than $2, MarketWatch reports. Mounting problems at Citigroup and General Motors drove their shares to $1.02, and $1.95, respectively. The Dow dropped 281.40 to close at 6,594.44. The Nasdaq lost 54.15, closing at 1,299.59, while the S&P 500 lost 30.32 to settle at 682.55.

Floor official Gregg J. Maloney looks at his monitor as he works the trading floor of the New York Stock Exchange today.
Floor official Gregg J. Maloney looks at his monitor as he works the trading floor of the New York Stock Exchange today.   (AP Photo)
Dilip Patel, left and Peter Mazza, right, watch their monitors as they work the trading floor of the New York Stock Exchange today.
Dilip Patel, left and Peter Mazza, right, watch their monitors as they work the trading floor of the New York Stock Exchange today.   (AP Photo)
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What's most worrisome is that we haven't hit the crescendo yet. Asset management divisions are getting calls to just liquidate everything, and we haven't seen the big players come back in at all.
- Bill Groeneveld, vFinance Investments

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9 comments
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ClingingToHope
Mar 5, 09 3:33 PM CST
Yet more evidence of nObama's ineffectiveness; just another corrupt Chicago politician who has never held a real job in his life. I pray that the people questioning his birth certificate are correct. Even Joe Biden would be better than this joke of a president. Reply
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IN RESPONSE:
woody66
Mar 5, 09 5:28 PM CST
The financial wizards & gurus have been telling us for 20 years now not to invest anything in equities that we will need to touch inside of 10 years. So if you are smart and own stocks you've got a 10 year time horizon and can wait it out right ?. Why the panic now on day to day stock values, looking to blame someone or something. It took the Dow 12 years to go from 9 K to 14 K and 6 months to drop to 7 K. What goes up goes down, sometimes fast, sometimes slow. Equities require a long term time horizon to pick you spot to liquidate or convert incrementally to cash, bonds or other instruments. If this hasn't been your strategy then you've not been been listening to the gurus and have been SPECULATING. And speculation is risky.........I have no idea what your rant on corruption and birth certificates to do with this. I think all of you GOPers need Ritalin badly.
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PaleRider
Mar 5, 09 7:36 PM CST
Nancy Pelosi would take over, so as far as out of the frying pan, into the fire.
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IN RESPONSE:
bacimom
Mar 9, 09 12:20 PM CDT
Your Highness, is that you?
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bacimom
Mar 5, 09 4:11 PM CST
The ineffectiveness is in allowing these people to continue trading. Everytime they earn a penny then the next day crashes so they can cash that penny in. Until they suspend trading this will continue to happen. Reply
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