Dow Plunges 500 Points!
Sep 15th, 2008 | By Contrarian Profits | Category: Financial NewsThe Dow Jones Industrial Index (DJI) got whacked for 504 points (4.42%) today, as the fallout from Wall Street’s crisis pummeled financial markets.
The index closed trading at 10,917.5, the lowest point since July, 2006. Lehman Brothers (NYSE:LEH, 94%) and AIG (NYSE:AIG, 61%) were the biggest losers of the day. Meanwhile, Merrill Lynch (NYSE:MER), which sold itself to Bank of America (NYSE:BAC) saw big early gains wiped outin afternoon trading.
The Dow lost 164 in the last half hour of trading in New York, which sends a bad signal for tomorrow’s opening.
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