Dow Falls 161 in Broad Sell-Off

Investors unwind bets ahead of 2nd-quarter earnings kickoff
By Nick McMaster,  Newser Staff
Posted Jul 7, 2009 3:19 PM CDT
A trader works on the floor of the New York Stock Exchange during afternoon trading in this undated file photo.   (Getty Images)
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(Newser) – Investors turned pessimistic ahead of the start of the second-quarter earnings season, initiating a broad sell-off that depressed the major indices, the Wall Street Journal reports. Oil fell another $1.12 to 62.43 a barrel, pushing energy stocks lower; the S&P 500’s energy sector was off 2.8%. The Dow closed down 161 points at 8,164. The Nasdaq lost 41 points to settle at 1,746, and the S&P 500 fell 18 points, closing at 881.