Monday, October 6, 2008

Dow break 10,000 mark

As expected in previous post, DOW down more than 200 points, break 10000 mark.

Excerpt from AP:Dow plunges below 10,000; lowest level since 2004
Investors around the world have come to the sobering realization that the Bush administration's $700 billion rescue plan won't work quickly to unfreeze the credit markets. Global banks, hobbled by wrong-way bets on mortgage securities, still remain starved for cash as credit has dried up.

Marketwatch: U.S. stocks fall sharply as global financial woes persist
CNNMoney: Dow falls below 10,000
CNNMoney: Volcker: Financial system needs reform

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