Dow tumbles 200 points on jobs, manufacturing data
Stocks fell sharply Thursday after worse-than-expected readings on the manufacturing and labor fronts overshadowed better news on housing and consumer spending.
The blue-chip Dow Jones Industrial Average ($INDU) fell 203 points, or 2.1 percent, to close at 9,509, while the broader S&P 500 ($INX) shed 27 points, or 2.6 percent, to 1,030. The tech-heavy Nasdaq Composite ($COMPX) tumbled 65 points, or 3.1 percent, to finish at 2,057.
All 30 stocks in the Dow ended the session lower, with financials posting the biggest declines. Bank of America (BAC) and American Express (AXP) each fell more than 4 percent, while JPMorgan Chase (JPM) dropped more than 5 percent.
For more on stocks making news today, be sure to check out BloggingStocks' market wrap.
The blue-chip Dow Jones Industrial Average ($INDU) fell 203 points, or 2.1 percent, to close at 9,509, while the broader S&P 500 ($INX) shed 27 points, or 2.6 percent, to 1,030. The tech-heavy Nasdaq Composite ($COMPX) tumbled 65 points, or 3.1 percent, to finish at 2,057.
All 30 stocks in the Dow ended the session lower, with financials posting the biggest declines. Bank of America (BAC) and American Express (AXP) each fell more than 4 percent, while JPMorgan Chase (JPM) dropped more than 5 percent.
For more on stocks making news today, be sure to check out BloggingStocks' market wrap.
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Reader Comments (Page 1 of 1)
10-02-2009 @ 10:53AM
William said...
How about this as a novel approach... instead of CEO's making millions of dollars, how about we start spending that money on hiring people so people can have a job so they can spend money. When people spend money, people keep their jobs cause it helps industry. Simple reasoning my dear watson! How about our elected leaders taking a pay cut also. Every little bit helps! Come on my so called expert friends in finance, loosen up your pocket books and start putting money back into hiring people and building a new economy for the 21st century.
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