Breaking News Alert The New York Times Monday, December 1, 2008 -- 4:20 PM ET -----
Dow Plunges 680 Points as Recession Is Declared The stock markets took a fall on Monday, diving along with investors' confidence. Confirmation that the nation is in a recession and reports of only a modest gain in holiday shopping sales have prompted many investors to resume selling after five days of higher closings. [The stock market is so crazy; the recession has been obvious for months. How can anyone take the idea of the "efficient markets hypothesis" seriously??] Late-session comments by Treasury Secretary Henry M. Paulson Jr. that the economic downturn is "significant" but manageable probably added to the market's gloom, as did more downbeat data about manufacturing and construction. The Dow Jones industrials were down 679.95 points, or 7.7 percent, while the broader Standard and Poor's 500-stock index was down 8.93 percent, or 80 points. The technology heavy Nasdaq fell 8.95 percent. Read More: http://www.nytimes.com/?emc=na Copyright 2008 The New York Times Company -- Jim Devine / "Nobody told me there'd be days like these / Strange days indeed -- most peculiar, mama." -- JL. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
