msnbc.com: Dow tumbles nearly 270 on recovery worries
Posted on February 4, 2010
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Stocks buckled Thursday under the growing belief that the global economy is weaker than many investors expected and likely to stop companies from hiring. The Dow Jones industrials traded below 10,000 for the first time in three months.
A flood of bad news, including rising debt levels in European nations and an unexpected jump in the number of Americans filing for unemployment benefits, had investors pulling money out of assets like stocks and commodities that look increasingly risky. Fears of more disappointing news Friday, when the government issues its January employment report, added to the selloff.
Demand for safer investments sent the dollar and Treasurys higher and the euro falling. Major indexes skidded as much as 3.1 percent to their lowest levels in three months. The Dow fell 268 points and briefly traded below 10,000 for the first time since Nov. 6.
Read Full Article Here: Dow tumbles nearly 270 on recovery worries – Stocks & economy- msnbc.com.
Apparently the fact that the fed and bailed out banks have been pushing the Dow higher is just now starting to sink in. America is not going to recover from the Great Decline.
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