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US stocks dive on Dubai financial problems

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Saturday, Nov 28th, 2009

US stocks dived Friday as investors confronted the fallout from Dubai’s debt problems that have rocked global markets.

The Dow Jones Industrial Average plunged 183.35 points (1.75 percent) to 10,281.05 at 1500 GMT.

The tech-heavy Nasdaq composite slid 44.40 points (2.04 percent) to 2,131.65 and the broad-market Standard & Poor’s 500 retreated 22.52 points (2.03 percent) to 1,088.11.

“The Dubai debt debacle will dominate trading today, overshadowing news flowing out of the retail sector regarding Black Friday — the first major barometer of holiday consumer spending,” Briefing.com analysts said in a client note.

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This article was posted: Saturday, November 28, 2009 at 1:54 am

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