Ya know how your brakes sound when it’s ‘metal on metal’ ??
not that good.
U.S. stocks loss accelerate; Dow slumps below 8,000
By Nick Godt
Last update: 3:39 p.m. EST Jan. 20, 2009
NEW YORK (MarketWatch) -- U.S. stocks saw their losses accelerate in afternoon trade Tuesday, with the Dow industrials losing over 300 points to trade below 8,000, amid heightened concerns about the health of financial firms. The Dow Jones Industrial Average ($INDU:
7,949.09, -332.13, -4.0%) was down 297 points, or 3.6%, at 7,980, with 29 of its 30 components trading lower. It earlier slumped more than 300 points to a low of 7,947. The S&P 500 index ($SPX:
805.22, -44.90, -5.3%) , was down 35 points, or 4%, at 814, while the Nasdaq Composite (COMP:
1,440.86, -88.47, -5.8%) fell 68 points, or 4.5%, at 1,460.