Market Sinks After Tech Rally Shuts Down

Three-digit Dow drop reflects uncertainty infecting global market

(NEWSER) - Uncertainty ruled Wall Street and the global markets today, with the Dow skidding over 100 points at the open 1 day after the second-largest decline of the year. Central banks around the world acted to stem the unrest that continues to accompany the widening subprime mortgage crisis, but big-picture machinations weren't filtering down to the floor, one trader told Reuters. More»

Stocks gain on body's 'moderate' growth expectations

(NEWSER) - Stocks were up across the board today after the Fed expressed confidence that “moderate” expansion would continue, countering fears that the subprime fiasco will bleed further into the broader market. The Dow was down more than 100 points immediately after the decision as traders scrambled to decode it, but closed up 35.52, at 13,504.30 More»

(NEWSER) - Stocks jumped at the open today, with the Dow up 61 points, the Nasdaq adding 0.5%, and the S&P gaining 0.7%, powered by strong moves in its energy and basic materials sectors. That was due in part to the surge in fuel prices, with oil clearing $71 a barrel. Chevron and Exxon Mobil each rose 1%. Shares in industrial companies also climbed, with Caterpillar up 1.3%. If it holds, the Dow's move will put it in positive territory for the year. More»

Dow up 140

(NEWSER) - Stocks surged at the opening bell this morning, as traders registered approval of the central banks’ move to inject $360 billion into global money markets. The Dow jumped 118 points, while the S&P and Nasdaq rose 1.6% and 2% respectively. “These joint interventions are welcomed by the market, showing the Fed is trying to solve the logjam,” said one economist. More»

Dow returns to 11K-plus territory

(NEWSER) - As AIG's future became somewhat clearer, the wildly fluctuating markets settled into positive territory at the end of today's session. Rumors that the Fed will bail out the mega-insurer helped nearly erase a 74% decline, Bloomberg reports. The Dow closed up 141.51 at 11,059.02, the Nasdaq gained 22.45 to 2,202.36, and the S&P 500 rose 20.86 to 1,213.56. More»