Markets Dive At Opening
Wall Street dropped sharply at opening this morning as markets responded to worse-than-expected unemployment news released today.
In the first 20 minutes of trading, the Dow is down 155 points, or about 1.8 percent.
The broader S&P 500 and the tech-heavy Nasdaq are both down about 2 percent.
National unemployment rose from 9.4 to 9.5 percent this morning, as employers slashed 467,000 jobs from the economy in June, a greater-than-expected number, The Post's Neil Irwin reports.
In an interview on CNBC moments ago, Christina Romer -- President Obama's chief economic adviser -- said the president is committed to "doing whatever it takes" to turn around the economy and did not rule out a second stimulus plan.
Unemployment now stands at a 26-year-high. The Ticker will dive deeper into this topic later today.
July 2, 2009; 9:52 AM ET
Categories: The Ticker | Tags: Dow Jones, nasdaq, s&p 500, unemployment
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