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Wall St extends losses on economic gloom

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Reuters
Thursday, November 6, 2008

NEW YORK (Reuters) – Stocks extended their sell-off on Thursday as concerns of a worsening economic downturn were fueled by a disappointing revenue outlook from Cisco Systems and bleak sales from some major U.S. retailers.

Energy shares also weighed on markets as the price of oil skidded $5 to $60.30 a barrel.

The Dow Jones industrial average tumbled 260.69 points, or 2.85 percent, to 8,878.58. The Standard & Poor’s 500 Index lost 29.46 points, or 3.09 percent, to 923.31. The Nasdaq Composite Index gave up 43.95 points, or 2.61 percent, at 1,637.69.

Wall St extends losses on economic gloom 161008pptv2

This article was posted: Thursday, November 6, 2008 at 11:03 am





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