Stocks extend drop on Bear Stearns and credit fear
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Fri, 14 Mar 2008 18:43:08 GMT |
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Reuters |
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US (Business) |
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NEW YORK (Reuters) - Stocks extended losses on Friday after a cash crunch forced Bear Stearns to secure emergency funding, triggering a sell-off in financial shares and fanning concerns about an escalating credit crisis.The Dow Jones industrial average <.DJI> slid 286.97 points, or 2.36 percent, to 11,858.77. The Standard & Poor's 500 Index <.SPX> dropped 37.93 points, or 2.88 percent, to 1,277.55. The Nasdaq Composite Index <.IXIC> plunged 69.58 points, or 3.07 percent, to 2,194.03.(Reporting by Justin Grant; Editing by Jan Paschal)
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