Posted By RichC on October 9, 2008
Dow 8,579.19 -678.91 (-7.33%) | Nasdaq 1,645.12 -95.21 (-5.47%) | S&P 500 909.92 -75.02 (-7.62%)
No buyers on Wall Street — the collapse continues to drive stock prices lower and cut even deeper into ordinary Joe and Jane’s retirement and college savings. Not only has today’s drop put the DJIA to extremely low levels, it is frightening all who have savings associated with stocks and mutual funds. Blood is flowing and the survival of many companies is also on the line. It is looking more and more as if this world impacting crisis might threaten what we see as normal life in the U.S. for a long time to come. I’m no longer worried about future prosperity, but am concerned more and more about today; job losses for many are right around the corner — start watching for company and store door closings. Without a fast change, its going to get very ugly.