All 3 Majors Declined As Large Banks Predict A Dismal Fourth Quarter

All 3 major indexes declined on the both the day and the week, as subprime debt and credit market turmoil continue to wreak havoc on financial stocks. Large banks including the Bank of America, Wachovia and JP Morgan Chase reported that fourth-quarter losses should be expected. The dollar continued to decline against the euro, while the cost of crude oil and gold continued to rise.

1,826,243,750 shares were traded @ The New York Stock Exchange® today.

For the week, the DJIA lost 552.36 points (-4.06%), the NASDAQ Composite Index lost 182.44 points (-6.49%), and the S and P 500 Index lost 55.95 points (-3.71%).

Summary of The U.S. Markets for Today:

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DJIA: Closed @ 13,042.74 (-223.55)

NASDAQ: Closed @ 2,627.94 (-68.06)

S and P 500: Closed @ 1,453.70 (-21.07)

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NYMEX Crude Oil Future closed @ $96.32/barrel

NY Spot Gold closed @ $832.10/ounce

In New York, The U.S. Dollar buys 0.6813 Euros

In New York, The Euro buys 1.4678 U.S. Dollars

The Federal Funds Target Rate is 4.50%

Ten-Year Treasury Note Yield is currently @ 4.225%

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