blinkx

  • Stocks Slump on Gloomy Economic Omens; Dow Sheds 733 Points

  • 00:01:13
  • YouTube
    • Browse

Stocks Slump on Gloomy Economic Omens; Dow Sheds 733 Points

[15]News 15 October 2008 4:13Pm EST Stocks fell sharply on Wednesday in the face of new indications that the economic downturn could be a prolonged one. The Dow Jones industrial average fell 733.08 points, or almost 8 percent, to 8,577.91, and the broader Standard & Poor's 500-stock index was down 9 percent, wiping out most of the gains from Monday's big rally. The sell-off reflected the likelihood that serious dislocations will plague the economy even if the coordinated bailouts announced this week succeed in restoring confidence to credit markets. Retail sales decreased 1.2 percent last month, nearly double the 0.7 percent drop that had been expected, and the chairman of the Federal Reserve, Ben S. Bernanke, warned that the economy faced a difficult period. Read More: http://www.nytimes.com/?emc=na

YouTube | October 15, 2008Watch more videos from YouTube

Tags:. .week. .faced. .could. .markets. .est










Almost   Announced   Average   Bailouts   Ben   Bernanke   Broader   Chairman   Confidence   Coordinated   Could   Credit   Decreased   Difficult   Dislocations   Double   Dow   Downturn   Drop   Economic   Economy   Emc   Est   Expected   Faced   Federal   Fell   Gains   Gloomy   Index   Indications   Industrial   Jones   Likelihood   Markets   Mondays   Month   Na   Nearly   Nytimes   October   Omens   Percent   Period   Plague   Points   Poors   Prolonged   Rally   Read   Reflected   Reserve   Restoring   Retail   Sales   Selloff   Serious   Sharply   Sheds   Slump   Standard   Stocks   Succeed   Warned   Wednesday   Week   Wiping