Network News

X My Profile
View More Activity
2.7%  Q1 GDP    4.57%  avg. 30-year mortgage     9.5%  Unemployment

Markets Drop at Opening

Wall Street seemed determined to instantly give up yesterday's rally gains at opening today, with markets dropping across the board.

In the first 15 minutes of trading, the Dow is down about 85 points, or 1 percent.

The broader S&P 500 is down 1.4 percent and the tech-heavy Nasdaq is off nearly 1.6 percent.

Traders have gotten nervous when the S&P has dipped below 800. It's sitting at about 786 at opening today.

Also this morning, ADP Employment Services said that the private sector cut 742,000 jobs in March, many more than the 655,000 expected by economists.

This number could be a predictor of the government's unemployment number set for release on Friday. Economists predict that the U.S. unemployment rate of 8.1 percent will rise to 8.5 percent.

-- Frank Ahrens
Sign up to get The Ticker on Twitter

By Frank Ahrens  |  April 1, 2009; 9:47 AM ET
Categories:  The Ticker  | Tags: Dow Jones, nasdaq, s&p 500, unemployment  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   StumbleUpon   Technorati   Google Buzz   Previous: Finally Launches
Next: Trio of Economic Indicators Not as Bad as Expected

No comments have been posted to this entry.

The comments to this entry are closed.

RSS Feed
Subscribe to The Post

© 2010 The Washington Post Company