Skip to: Content
Skip to: Site Navigation
Skip to: Search
WEDNESDAY, NOVEMBER 25, 2009
| Subscribe to Newser's RSS feeds RSS | Follow Newser on Twitter Twitter


 MARKET UPDATE 
2

Dow Drops Nearly 300 on Auto Bailout News

Share

(Newser) – Stocks hit the brakes hard this morning, after the Obama administration’s auto task force panned GM and Chrysler’s proposed reconstruction plans. The Dow was down 298 points by late morning, while the S&P and Nasdaq had tumbled 59 and 31 points respectively. GM plummeted 25%, falling below $3. Financials, meanwhile, were falling, in response to huge selloffs overseas. The Nikkei fell 4.5%, the Hang Seng 4.8%, and the Sensex 4.9%.

A stock trader works at the New York Stock Exchange Monday, March 30, 2009. Stocks opened lower Monday after the White House rejected requests by General Motors Corp. and Chrysler to get more bailout money.
A stock trader works at the New York Stock Exchange Monday, March 30, 2009. Stocks opened lower Monday after the White House rejected requests by General Motors Corp. and Chrysler to get more bailout...   (AP Photo/Mark Lennihan)
Patrick Murphy, center, with Barclays Capital, monitors Citigroup stock prices at the New York Stock Exchange Monday, March 30, 2009.
Patrick Murphy, center, with Barclays Capital, monitors Citigroup stock prices at the New York Stock Exchange Monday, March 30, 2009.   (AP Photo/Mark Lennihan)
Traders work on the floor of the New York Stock Exchange, Friday, March 27, 2009.
Traders work on the floor of the New York Stock Exchange, Friday, March 27, 2009.   (AP Photo/Mary Altaffer)
Jennifer Klesaris, with Barclays Capital, works at the New York Stock Exchange Monday, March 30, 2009. .
Jennifer Klesaris, with Barclays Capital, works at the New York Stock Exchange Monday, March 30, 2009. .   (AP Photo/Mark Lennihan)
« Prev« Prev | Next »Next » Slideshow
OFF THE GRID
11.24.09
Murdoch and Microsoft: The Mice Are Trying to Roar
11.23.09
Books Are Bad for You
2 comments
VIEWING:
 
Doctor_Zaius
Mar 30, 09 11:42 AM CDT
Welcome to the Bear. Reply
Vote up! Vote down!
0
Derni
Mar 30, 09 2:19 PM CDT
Good-hold strongly to the concessions and if they don't agree -then cut the rope. Reply
Vote up! Vote down!
0
LEAVE A
COMMENT Comment Policy
Facebook ConnectPost this comment to Facebook?

After connecting you will have the option to post your comment on your Facebook profile.

 

Related Newser Stories

675 Stories

MARKETS

 Dow Drops 17 Points  

Home prices rise but fail to meet expectations

Nov 24, 09 3:17 PM CST
(Newser) - Stocks almost managed to recover from steep losses suffered early in the day but ended in the red. Among the factors: China signaled it's ready to tighten credit, and September home prices rose but less than expected, the Wall Street Journal reports.
  • The Dow closed down 17 points at
... More »

MORE ABOUT:
Dow Jones • Nasdaq • S&P 500

MARKETS

 Up 133, Dow Hits New '09 High

Data on home resales spur rally

Nov 23, 09 3:18 PM CST
(Newser) - Stocks rallied today on news that home resales jumped 10.1% in October and comments from the president of the St. Louis Fed reaffirming the government's extended commitment to support the credit markets, the Wall Street Journal reports.
  • The Dow jumped 132.79 points to close at 10,450.
... More »

MORE ABOUT:
Federal Reserve • Dow Jones • home sales • Nasdaq • existing home sales • S&P 500 • existing-home sales

MARKETS

 Dow Dips 14; Energy, Tech Fall 

Dow gains 0.5% for the week, other indices fall

Nov 20, 09 3:10 PM CST
(Newser) - Energy stocks led declines on Wall Street today after Goldman Sachs downgraded coal firm Peabody Energy, and Dell reported a bigger-than-expected profit decline, the Wall Street Journal reports.
  • The Dow closed down 14.28 points at 10,318.16.
  • The Nasdaq lost 10.78, closing at 2,146.
... More »

MORE ABOUT:
Dell • Goldman Sachs • Dow Jones • Nasdaq • S&P 500 • Peabody Energy

675 Stories


Business 
TwitterFollow @NewserBusiness on Twitter

 
stock market • Dow Jones • General Motors • Nasdaq • Nikkei 225 Stock Average • auto industry • Bombay Sensex • S&P 500 • Hang Seng China Enterprises Index • auto bailout • auto task force

from our news partners