Tuesday, February 24, 2009

Dow Down to 12 Year Lows

The Dow slipped to near 7,100 points... it hasn't been this low since mid-1997!

Excerpts from CNN Money story:
The Dow and S&P 500 tumbled to levels not seen in nearly 12 years Monday, as investors continue to worry that the government's efforts to slow the recession won't be sufficient.

The Dow Jones industrial average (INDU) lost 250 points, or 3.4%, ending at the lowest point since May 7, 1997.

The S&P 500 (SPX) index lost 26 points, or 3.5%, ending at the lowest point since April 11, 1997.

The Nasdaq composite (COMP) lost 53 points, or 3.7%. The tech-fueled index has held up better than the rest of the market so far this year, closing at the lowest points since Nov. 20, 2008.

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plez sez: the remnants of my 401(k) are just that: remnants. my wife's 401(k) losses were in the 5-digit range... yeah, that bad!

i can't even imagine what has happened with people who are on fixed incomes or living off of 401(k) money that loses value by the hour.

~ ~ Citations ~ ~

Read the New York Times article about the shrinking Dow.

Read the CNN Money article about how all markets continue to lose value.

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