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2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Dow Sinks Below 9,000 For First Time In Five Years

The early day gains on Wall Street have been long erased and replaced by steep losses, pushing the Dow below 9,000 for the first time since June 2003.

Starting the final hour of trading today, the Dow is down nearly 300 points, or 3 percent.

The S&P 500 is down about 3.6 percent and the Nasdaq is down more than 2 percent.

Good third-quarter earnings news by IBM has not offset hammerings being absorbed by other industries, chiefly the auto sector, where GM and Ford are getting crushed. Also under stress today: the financial, healthcare and energy sectors.

-- Frank Ahrens

By Frank Ahrens  |  October 9, 2008; 3:16 PM ET
Categories:  The Ticker  
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Next: Bush: 'We'll Get Through This Deal'

Comments

It could go atomic in the morning. Find a private shelter and stay safe. Quality will last forever even as the market explodes. The next five years should be much better than the last five years. At least for me and hopefully for you. Keep busy.

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Posted by: A-G | October 9, 1908 9:59 PM | Report abuse

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