Wednesday, September 17, 2008

More news on the 'fundamentally sound'* US economy

NEW YORK ( -- Stocks plummeted Wednesday, with the Dow industrials falling 449 points in its second worst session of the year, as the government's emergency rescue of AIG amplified fears about the stability of financial markets. 

The Dow Jones industrial average (INDU) lost 449 points, or 4% and fell to the lowest level since November 2005. The Standard & Poor's 500 (SPX) index lost 4.7% and fell to its lowest point since April 2005. The Nasdaq composite (COMP) lost 4.9% and ended at its lowest point since August 2006.

*John McSame - 9/15/2008

That's nearly a 9% drop in stock market value in 3 days. 

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