Posted on 02/23/2009 1:19:47 PM PST by cll
NEW YORK (AP) -- The major stock market indexes have staggered to their lowest levels in more than a decade, pulled down by investors' rapidly waning confidence. The Dow Jones industrial average and the Standard & Poor's 500 index are at the lowest point since 1997, succumbing to growing worries about a recession that has no end in sight.
Most financial stocks were pounded even as government agencies led by the Treasury Department have said they will launch a revamped bank rescue program. It includes the option of increasing government ownership in financial institutions without having to pour more taxpayer money into them.
The Dow Jones industrial average is down 250 at 7,114. The Standard & Poor's 500 index is down 26 at 743, while the Nasdaq composite index is down 53 at the 1,387.
(Excerpt) Read more at finance.yahoo.com ...
I think the last 5 yrs before you get SS are what they go by.
Yank it and crank it. Cash will be king.
It maybe bad now, but in the long term it is for the good.. Oh buy they way 401k are TAX DEDUCTIBLE..
Figure out if you would of been better off today paying the tax on it and buying a gold coin instead. You will be amazed.
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