Truthdig - Ear to the Ground - Dow-nward Spiral

			July 4, 2009 Log in / Register
			Text Size

Designer Vaginas: Is Female Circumcision Coming Out of the Closet?

The Age of Paine

Palin Will Step Down as Alaska's Governor

I Am Robama, and I Come in Peace

Racial Row in Freemasonry

The Age of Paine
By Scott Tucker

A Doctor in the House
By Bruce Cameron

The Battle Over the Burqa
By William Pfaff

Designer Vaginas: Is Female Circumcision Coming Out of the Closet?
By Gbemisola Olujobi

Honduras’ Top Court Refuses to Reinstate Zelaya

Palin Will Step Down as Alaska’s Governor

New, Softer Approach to Illegal Workers

Iran Blames the British

Racial Row in Freemasonry

Cynthia McKinney Detained in Israel

‘Left, Right & Center’: Econorama

Video: Honduran Soldiers Shoot Pro-Zelaya Supporters’ Tires

I Am Robama, and I Come in Peace

Colbert Plays ‘Judge, Jury and Executioner’

Mark A. Fischer on Joe Torre
By Mark A. Fischer

Newsweeklies on the Brink

Pina Bausch, 1940-2009

The Seal as Role Model for Obese Kids

Financial Meltdown 101

A Dig compiled by the editors of Truthdig

Vetting Sarah Palin

A Dig compiled by the editors of Truthdig

Iran and the Bomb: The Abdication of International Responsibility

By Thérèse Delpech
$20.48

Dow-nward Spiral

finance.google.com

In a little over two weeks, the Dow has tumbled more than 2,000 points as bad economic news continues to pile up. Word on Thursday that jobless claims hit a 16-year high, combined with a dreary outlook for Detroit and a lack of confidence in major financial institutions, helped drive the DJIA down to 7,552.29.

Wall Street Journal:

The Dow Jones Industrial Average plunged 444.99 points, or 5.6%, to 7552.29. The benchmark’s financial stocks were bludgeoned amid fears that more credit losses could begin to pile up from bets on commercial real estate, and that the balance sheets of financial institutions will be further sullied by what appears to be a worsening economic outlook.

Citigroup, which lost nearly a quarter of its value a day ago, dropped 26% amid anxiety about its credit exposure. But few banking companies were spared from a battering on Thursday. Fellow Dow components J.P. Morgan Chase and Bank of America declined by 18% and 14%, respectively.

Read more

TAGS: bank banks credit detroit dow economy jobless market money stocks unemployment wall street

Related Entries

July 3, 2009 ‘Left, Right & Center’: Econorama
July 3, 2009 The Age of Paine
July 2, 2009 Washington Post Makes a Really Bad Decision
July 2, 2009 Wall Street Pay Fattens as Rest of U.S. Suffers
July 2, 2009 Rational? Don’t Bet on It

Email to a friend

Get truth delivered to
your inbox every week.

Previous item: Pakistan PM: U.S. Airstrikes 'Intolerable'

Next item: Fannie, Freddie to Give Foreclosures a Holiday

Jump to Comments

Advertisement

Elsewhere: .

Comments

Are you a Truthdig member yet? Login now, or register with Truthdig.

By GW=MCHammered, November 21, 2008 at 3:30 am #
(Unregistered commenter)

Anyone else smell new currency rising from this B.S. slide? Such antiquated ideals.

Report this

By samosamo, November 21, 2008 at 1:08 am #

Sure seems to be in free fall now. My projections of 5000 before January is doable.
Much thanks to pelosi, paulson, bernanke, w, the new billionaire sec. of commerce to be for obama and all the big big big banks, the big big banks, the big banks, and wall street which somehow became the media and w’s choice as the indicator of how strong our economy was, is and will be.
Hopefully, cleaning out the coffers will at least give someone the chance to rebuild the economy from the bottom up but I doubt that will happen. After all, the few left to benefit are not necessarily republicans that want their slice(s) of the pie.

Report this

Add Your Comment

Jr. Baby Doll T-Shirt