Monday’s Market Recap (09/22/2008)
Bad day for the markets today, as investors fled for safety in hard assets like gold and oil which sent the stock market stumbling. The Dow Jones Industrial Average tumbled 3.27%, dropping 372.75 points to settle at 11,015.69. The Nasdaq dropped 4.17% or 94.92 points to close at 2,178.98 as technology took a big hit today. The S&P 500 declined 47.99 points, or 3.82%, to settle at 1,207.09. The 10 year Treasury note rose 151 basis points to 3.8260%. Crude Oil closed at $120 per barrel, up $16.37 or 15.66%, falling slightly from its intra-day high close to $130 per barrel. During the session today, crude oil posted its biggest single day gain in history, jumping up over $25. Gold rose to $902.00 an ounce, up $41.40 or 4.81%. We should keep a close eye on commodity prices as [More...]
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