Wall Street Extends Losses in Volatile Week

BusinessWall Street Extends Losses in Volatile WeekWall Street Extends Losses in Volatile WeekThe Associated PressWall Street suffered another big loss Friday, with the Dow Jones industrials falling more than 100 points amid worries about high oil prices and further fallout from the credit crisis. (June 27)Wall Street suffered another big loss Friday, with the Dow Jones industrials falling amid worries about high oil prices and further fallout from the credit crisis.News that Moody's Investors Service is reviewing Morgan Stanley for a possible downgrade and reports Merrill Lynch might take heavy write-downs in the second quarter soured the mood. The Dow Jones Industrials closed down 107 points at 11, 346. The Standard&Poor's 500 index fell 6 points to 1278 and the NASDAQ dropped 5 to settle at 2,315Investors got little solace from the Commerce Department, which reported spending rose eight-tenths of a percent in May, as taxpayers started receiving their stimulus checks. [Notes:SOT David Wyss, Chief Economist Standard&Poor's] Amid the rough session, the mood outside the stock exchange was one of continued uncertainty.

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YouTube | June 27, 2008

Tags:. .sot. .downgrade. .solace. .uncertainty. .tenths