Monday, October 6, 2008


stock market forecast
Tough day for stocks

NEW YORK ( -- Stocks plunged Monday, with the Dow down as much as 800 points during the session, as the $700 billion bank bailout plan and European government attempts to prop up faltering banks failed to comfort panicky investors.

But the Dow Jones industrial average (INDU)and other major indexes cut losses in the final hour. The Dow ended down 369 points, according to early tallies.

At 9,525.32, the index hit its lowest level during a session since Oct. 24, 2003, when it touched 9,497.72.

Other indexes also cut losses in the final hour.

The Standard & Poor's 500 (SPX) index, after being down 7.7% to its lowest point since Sept. 12, 2003, was down 3.9%. The Nasdaq composite (COMP) was down 4.3% after falling 8% to its lowest point since Aug. 28, 2003.


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