Stocks, Commodities Plunge

By Kevin Spak,  Newser Staff
Posted May 11, 2009 8:57 AM CDT
Traders work on the floor of the New York Stock Exchange.   (AP Photo)
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(Newser) – Stocks plunged at the open, as banks sold shares to raise capital, and consumer and commodity stocks took a pounding, the Wall Street Journal reports. The Dow was down 140, the Nasdaq down 1.8% and the S&P off 2.1. Oil producers were hit hard as crude fell blow $58 a barrel, while Bank of America and Morgan Stanley led financials south, falling 3% and 2% respectively.