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Economy

Economic Data (USA)

Friday, February 20, 2009

All 3 Majors Lost More Than 6% On The Week

All 3 major indices lost more than 6% on the week. Earlier today, investors were spooked after U.S. Senator Christopher Dodd said that some American banks may have to be nationalized for a short time. Financial stocks suffered. Shares of Citigroup (C) closed at $1.95 per share, while shares of Bank of America (BAC) closed at $3.79 per share.

Dodd is the chairman of the Senate Banking Committee.

The price on New York Spot Gold moved closer to the $1,000 mark, closing the week at $993.20 per ounce.

For the week, the DJIA shed 484.74 points (-6.175%), the NASDAQ Composite Index declined by 93.13 points (-6.07%), and the S&P 500 Index lost 56.79 points (-6.868%).


Summary of The U.S. Markets for Today:

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DJIA: Closed @ 7,365.67 (-100.28)

NASDAQ: Closed @ 1,441.23 (-1.59)

S&P 500: Closed @ 770.05 (-8.89)

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NYMEX Crude Oil Future closed @ $40.03/barrel

NY Spot Gold closed @ $993.20/ounce

In New York, The U.S. Dollar buys 0.7796 Euros

In New York, The Euro buys 1.2828 U.S. Dollars

The Target Range for the Fed Funds Rate is 0% - 0.25%

10-Year Treasury Note Yield is currently @ 2.772%

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