Stocks sink on Bear Stearns, credit concerns
|
|
|
NEW YORK (Reuters) - Stocks ended down sharply on Friday after an emergency plan to secure financing for Bear Stearns Co Inc pushed down financial shares and increased worries about problems in the credit market.Based on the latest available data, the Dow Jones industrial average <.DJI> fell 194.65 points, or 1.60 percent, to unofficially end at 11,951.09. The Standard & Poor's 500 Index <.SPX> was down 27.34 points, or 2.08 percent, to finish unofficially at 1,288.14. The Nasdaq Composite Index <.IXIC>was down 51.12 points, or 2.26 percent, to close unofficially at 2,212.49.For the week, the Dow actually rose, ending up 0.5 percent.But the S&P 500 finished the week down 0.4 percent and the Nasdaq ended unchanged.(Reporting by Caroline Valetkevitch; Editing by Jan Paschal) (c) Reuters 2008. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters and the Reuters sphere logo are registered trademarks and trademarks of the Reuters group of companies around the world.
|
|
|
|
|
|
Related News
US economists: 'Jobless' recovery to reach bottom at start of 2010 Washington - The US economy will start adding jobs some time in the first quarter of 2010, ending a so-called jobless recovery that has plagued the world's largest economy since the summer months, according to a survey released Monday. But the Nati...
Hershey, Nestle, sweeten war for Cadbury Washington - Hershey and Nestle are expected to jump into the war over Cadbury sweets, media reports said Saturday, just weeks after the British-based stalwart rejected a hostile bid by US Kraft Inc. The growing market for chocolate in the developing...
US stock drop slightly on Dell profits, mixed for week New York - Technology and energy shares pushed US stocks lower Friday, capping a mixed week for investors amid unease about the pace of the world's economic recovery. Tech stocks slid after a disappointing earnings report from computer giant Dell, wh...
GM: Opel restructuring plan by mid-December; cuts up to 25 per cent Washington - US carmaker General Motors will present a new restructuring plan for its European operations by mid-December, Nick Reilly, the new head of GM Europe, wrote on his new blog Friday. While the details were still being hashed out, Reilly war...
US stock sell-off on fears of weak recovery New York - US stocks followed global markets in a broad decline amid investor fears over the world's uneasy recovery from recession. Major US stock indices fell about 1 per cent on average, following hefty declines in the DJ Euro Stoxx 50 and Japan's...
US leading economic indicator gains 0.3 per cent Washington - A key measure of US economic performance gained in October, according to a private research group Thursday, signalling that a broader recovery may be taking hold. The New York-based Conference Board's Leading Economic Index added 0.3 per...
US stocks fall slightly on technology earnings New York - US stocks posted modest losses Wednesday on poor profit forecasts from technology firms and a surprising dip in home construction. Earnings from Salesforce.com and Autodesk were worse than expected. Other technology shares losing ground in...
|
|
|
|
|
|
|
|