.comment-link {margin-left:.6em;}

Economy

Economic Data (USA)

Friday, October 10, 2008

Each of The 3 Major Indices Lost Over 15% On The Week

Each of the 3 major indexes lost more than 15 percent on the week, the worst week ever for American equities. Crude oil for future delivery finished the week at $77.70 per barrel, a decline of $69.57 (47.24%) since hitting a record high of $147.27 per barrel on July 11, 2008. On Wednesday, the Federal Reserve, in concert with several central banks around the world, cut short-term interest rates by 50 basis points (0.50 percentage point.)

Stock Market Crash
For the week, the DJIA shed 1,874.19 points (-18.151%), the NASDAQ Composite Index lost 297.88 points (-15.296%), and the S and P 500 Index fell by 200.01 points (-18.195%).

Bear Market Update
Since closing with record highs on October 9, 2007, the DJIA has now declined by 5,713.34 points (40.336%), while the S&P 500 Index has lost 665.93 points (42.547%).


Summary of The U.S. Markets for Today:

----------------------------------------------------------

DJIA: Closed @ 8,451.19 (-128.00)

NASDAQ: Closed @ 1,649.51 (+4.39)

S and P 500: Closed @ 899.22 (-10.70)

----------------------------------------------------------

NYMEX Crude Oil Future closed @ $77.70/barrel

NY Spot Gold closed @ $849.90/ounce

In New York, The U.S. Dollar buys 0.7458 Euros

In New York, The Euro buys 1.3408 U.S. Dollars

The Federal Funds Target Rate is 1.50%

10-Year Treasury Note Yield is currently @ 3.861%

Labels: , , , , ,


--> www.FedPrimeRate.com Privacy Policy <--

>  SITEMAP  <

bing

bing

www.FedPrimeRate.com
Entire Website © 2024 FedPrimeRate.comSM


This website is neither affiliated nor associated with The United States Federal Reserve
in any way. Information in this website is provided for educational purposes only. The owners
of this website make no warranties with respect to any and all content contained within this
website. Consult a financial professional before making important decisions related to any
investment or loan product, including, but not limited to, business loans, personal loans,
education loans, first or second mortgages, credit cards, car loans or any type of insurance.