Stocks End Day Lower
Though volume was remarkably light in light of the upcoming holiday, the major stock indicators all fell today.
The Dow: down 100 points, or 1.2 percent, to 8,419.
The Nasdaq: down 8 points, or about 1 percent, to 863.
The S&P 500: down 10 points, or . 7 percent, to 1,521.
The reasons for the decline, according to analysts: Weak housing numbers; confirmation that GDP fell 0.5 percent in the third quarter; a report showing that many U.S. shoppers stayed home in the final weekend before Christmas; and weak performance in the oil market, which hurt energy stocks.
More disconcerting than the market performance -- at least to 4-year-old traders everywhere -- is the way the NYSE closed, with multiple Santas ringing the bell.
-- Michael S. Rosenwald
Posted by: econprof2 | December 23, 2008 7:19 PM | Report abuse
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