JeeYeon Park
CNBC.com
August 18, 2011
Stocks closed off their worst levels Thursday, but were still down sharply, following a handful of disappointing economic news and over continuing worries over the stability of euro zone banks.
All three major indexes are on track for the worst month in almost three years.
The Dow Jones Industrial Average tumbled 419.63 points, or 3.68 percent, to finish at 10,990.58, led by Alcoa [AA 11.51 -0.75 (-6.12%) ], BofA [BAC 7.01 -0.45 (-6.03%) ] and Hewlett-Packard [HPQ 30.41 -0.98 (-3.12%) ]. The Dow was down almost 530 points in its session low.
{openx:49}
Slowdown Fears Slam U.S. Stocks
Wall Street Journal
August 18, 2011
Stocks tumbled amid growing fears of a global recession, as investors confronted a grim mix of U.S. economic data and fresh concerns about Europe’s banks.
The Dow Jones Industrial Average ended down 419.63 points, or 3.7%, to 10990.58. The Standard & Poor’s 500-stock index dropped 53.24 points, or 4.5%, to 1140.65, while the Nasdaq Composite lost 131.05 points, or 5.2%, to 2380.43.
In the flight to safety, investors piled into gold, which jumped to a new record of $1,818.90 a troy ounce, up 1.55%. In the Treasurys market, the yield on the benchmark 10-year note briefly dipped below 2% in intraday trading for the first time since at least 1954, as investors sought refuge in U.S. debt.
The Emergency Election Sale is now live! Get 30% to 60% off our most popular products today!