Markets Fall Off Cliff At Opening
Uncertainty about the future of the U.S. banking system and rising prices pushed the markets right over a cliff at opening, sending the Dow below its November lows.
In the first 15 minutes of trading, the Dow is down about 104 points, or 1.6 percent.
The S&P 500 is down about 1.6 percent and the Nasdaq is down nearly 1 percent.
Shares of companies in the financial sector -- such as Bank of America, Citigroup, JP Morgan Chase & Co. and Morgan Stanley -- are leading today's sell-off, as the markets wait on comprehensive rescue/restructuring details from Treasury Secretary Tim Geithner.
February 20, 2009; 9:51 AM ET
Categories: The Ticker | Tags: Dow Jones, nasdaq, s&p 500
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