Democratic Underground Latest Greatest Lobby Journals Search Options Help Login

U.S. stocks tank again amid rate worries

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Archives » General Discussion (Through 2005) Donate to DU
ringmastery Donating Member (1000+ posts) Send PM | Profile | Ignore Thu May-06-04 03:51 PM
Original message
U.S. stocks tank again amid rate worries

NEW YORK (CBS.MW) -- U.S. stocks fell Thursday as renewed interest rate worries and another round of positive economic data prompted a broad sell-off.

Breadth was incredibly negative with losers outnumbering winners by of 27 to 6 on the New York Stock Exchange and 23 to 8 on the Nasdaq National Market.

The Dow Jones Industrial Average (^DJI - News) lost about 70 points, or 0.7 percent, to close at 10,241.26, while the Nasdaq Composite tumbled almost 20 points, or 1 percent, to finished 1,937.74.

At their lows for the session, the indexes scraped 10,170.51, and 1,923.30, respectively. The selling brought the Dow down on an intraday basis to levels unseen since late March. The Nasdaq's drop broke its consecutive streak of positive closes at three, erasing its cumulative gain over that period, and extending last week's 6.3 percent decline.

The S&P 500 (CBOE:^SPX - News) slid 0.7 percent to 1,113.96, while the Russell 2000 index (CBOE:^RUT - News) of small-cap stocks gave back 1.2 percent to 563.09.

Fallout from the Fed meeting Tuesday was still on investors' minds as they look ahead to Friday's employment report for another clue to the timetable of an eventual rate hike.

Printer Friendly | Permalink |  | Top

Home » Discuss » Archives » General Discussion (Through 2005) Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002
Software has been extensively modified by the DU administrators

Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC