Markets End the Day Down
The markets closed down after a volatile day of trading in which investors grappled with swine flu and the restructuring of the automakers.
The Dow dipped .64 percent, or 51 points, to 8,025. The S&P fell 1 percent, or 9 points, to 857.51, while the Nasdaq took a .9 percent hit, or 15 points, to end at 1,679.41.
The day started negative but then swung upward in mid-morning, boosted in part by health care stocks, which gained 1 percent today in response to the swine flu outbreak. But the transportation sector was a drag, falling nearly 5 percent, amid concerns that the outbreak could curtail global travel. The European Union today issued warnings about travel to the United States and Mexico.
Investors welcomed GM's restructuring plan, however. The Detroit automaker said it would cut another 21,000 jobs and phase out poorly performing brands. Its stock jumped 21 percent, or 35 cents, to $2.04.
--Ylan Q. Mui
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