Wall Street Opens Modestly Down
For those who were holding your breath awaiting a huge Dow plunge at opening based on the bad unemployment news, you can exhale. A little.
It looks like the jobs-loss news -- employers shed the most jobs in 30 years, jacking the unemployment rate to 6.7 percent -- was somewhat already priced into the market.
In the first 15 minutes of trading, the Dow is down about 90 points, or about 1 percent.
The S&P 500 and the Nasdaq both also are down about 1 percent each.
The markets could be thinking that Washington is going to provide some sort of aid to Detroit's troubled Big Three automakers, who are currently testifying before Rep. Barney Frank's (D-Mass.) financial services committee.
Check back here frequently for updates.
December 5, 2008; 9:49 AM ET
Categories: The Ticker | Tags: Dow Jones, nasdaq, s&p 500
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