Stocks tumble on worries about earnings forecasts
Go Deeper.
Create an account or log in to save stories.
Like this?
Thanks for liking this story! We have added it to a list of your favorite stories.
Stocks ended sharply lower as investors worry that the economy is poised to weaken even as frozen credit markets slowly start to show signs of recovery.
Corporate profit forecasts, a jump in the dollar and falling oil prices Wednesday indicate investors are worried that an economic slowdown will sweep the globe.
The major indexes each lost more than 4 percent, including the Dow Jones industrials, which is ending trading down 514 points to 8,519 after being down as much as 698 points in the final half hour of trading.
The S&P fell 58 points to 897, and the Nasdaq composite lost about 81 points to 1,615.
-
(Copyright 2008 by The Associated Press. All Rights Reserved.)
Turn Up Your Support
MPR News helps you turn down the noise and build shared understanding. Turn up your support for this public resource and keep trusted journalism accessible to all.