SubscribeAll Posts Tagged With: "washington post"
Weak Labor Market and Slowing Retail Sales Put U.S. Stocks in a Tailspin
The U.S. markets took a beating yesterday (Thursday) as retail sales sputtered and jobless claims surged.
At the New York close, the blue-chip Dow Jones Industrial Average Index had posted a loss of 344.65 points (-2.99%), to trade at 11,188.23. The tech-laden Nasdaq Composite Index dropped 74.69 points (-3.20%), to reach 2,259.04. And the broader Standard & Poor’s 500 Index lost 38.16 points (-2.99%), to settle at 1,236.82.
Disappointing August retail sales reinforced that the surprising 3.3% boost in U.S. gross domestic product (GDP) in the second quarter, due in large part to the government’s stimulus checks, won’t be repeated in the…
5Sep2008 | Money Morning | Comments Off | Continued
Loading ...
