10.09.2008

Trillion Here, Trillion There, That's Real Money

Bailout schmailout, this economy is in a serious tailspin....

One year to the day after climbing to its peak of 14,164.53, the Dow Jones Industrial Average was down 397.76 points at 8,860.34, pushing the blue-chip index under the 9,000 level to under 9,000 for the first time since August 2003.

The Dow's late-afternoon level has it down more than 5,000 points, or 37%, from its year-ago high.
[...]
With Standard & Poor's threatening a possible downgrade, General Motors Corp. was the heaviest weight on the Dow industrials. The stock fell 23%, making its first dip below $6 a share since 1951.

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