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Wall St extends losses on economic gloom

Posted By admin On November 6, 2008 @ 11:03 am In Money Watch | Comments Disabled

Reuters [1]
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 [2]

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URLs in this post:

[1] Reuters: http://www.reuters.com/article/newsOne/idUSTRE4A222P20081106

[2] Image: http://www.prisonplanet.tv/subscribe.html

[3] Europe extends global market losses: http://www.prisonplanet.com/europe-extends-global-market-losses.html

[4] Wall St falls as banks weigh on market: http://www.prisonplanet.com/wall-st-falls-as-banks-weigh-on-market.html

[5] Dow Reclaims 10,000 as Stocks Pare Losses: http://www.prisonplanet.com/dow-reclaims-10000-as-stocks-pare-losses.html

[6] World economic gloom deepens: http://www.prisonplanet.com/world-economic-gloom-deepens.html

[7] Housing report bruises Wall Street: http://www.prisonplanet.com/housing-report-bruises-wall-street.html

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