Stocks Sink on Swine Flu Panic

By Kevin Spak,  Newser Staff
Posted Apr 27, 2009 8:44 AM CDT
In this Feb. 23, 2009 file photo, specialist Peter Mazza works at his post on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, file)
camera-icon View 2 more images

(Newser) – Swine flu panic swept across markets today, sending stocks lower around the world. In the US, the Dow sank 80 points at the open, while the S&P and Nasdaq fell 1.1% and 1.2% respectively. In Asia, the Hang Seng tumbled 2.7%, while many major European indexes were down more than 1%. Commodities sank, with oil down almost $3 a barrel, as did transportation and travel stocks, with American Airlines down 7.6%

"As if we didn’t have enough to contend with," wrote one Sydney-based analyst, while a Londoner wrote, "It’s just what we need now, a flu pandemic in the midst of the biggest financial crisis since the Great Depression."