国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频

WORLD> News
Wall Street plunging into pit of despair
(Agencies)
Updated: 2008-10-10 10:30

A runaway train of a sell-off turned the anniversary of the US stock market peak into one of the worst days in Wall Street history Thursday, driving the Dow Jones industrials down a breathtaking 679 points and deepening a financial crisis that has defied all efforts to stop it.


 A weary trader rubs his eyes as he pauses outside the New York Stock Exchange following the end of the trading session in New York October 9, 2008. The Dow Jones Industrial Average dropped 678.91 points on the day to finish at 8579.19 closing below 9,000 for the first time since 2003. [Agencies]




Could it be just a year ago that jubilant investors were celebrating record highs in the stock market? It almost seems inconceivable now as both Wall Street and Main Street stare into a seemingly bottomless pit of despair that has swallowed up $8.3 trillion in shareholder wealth during the past 366 days.

"We aren't dealing with a fundamental economic issue any longer," said James Paulsen, chief investment strategist for Wells Capital Management. "We are dealing with fear. And that doesn't respond to economic medicine."

That hasn't stopped the US government from trying to find a remedy.

In a series of moves aimed at avoiding the mistakes that culminated in the Great Depression nearly 80 years ago, the US government already has committed to spend more than $1 trillion to prop up ailing banks and other lenders during the past month of turmoil.

But none of it seems to be working, which only seems to be scaring people even more, especially after US leaders spent nearly two weeks painting a gloomy picture of the economic outlook to persuade Congress to approve a $700 billion bailout of the banks.

"I think right now there are just some very powerful negative images that are alive in many people's minds -- images of the Depression, images of people selling apples," said George Loewenstein, a behavioral economist at Carnegie Mellon University. "The images of the downside are just so salient in people's minds, and nobody has presented an upside image yet."

The quarterly 401(k) statements that are starting to arrive in the mail will only serve as another grim reminder of the financial carnage. And it has gotten worse since the quarter ended in September, with the Dow Jones industrial average tumbling every day so far this month.

In this week alone, the Dow Jones has plummeted by 17 percent, bringing the total decline to 39 percent since the US stock market's most famous bellwether peaked at 14,164.53 on Oct. 9 a year ago.

   Previous page 1 2 Next Page  
徐水县| 杂多县| 营山县| 武城县| 应用必备| 青神县| 海宁市| 叶城县| 资溪县| 安塞县| 威海市| 易门县| 大庆市| 清新县| 五家渠市| 慈利县| 太白县| 阿鲁科尔沁旗| 永吉县| 灵川县| 昌吉市| 安平县| 宁德市| 云梦县| 射洪县| 广河县| 乾安县| 漳平市| 许昌市| 惠东县| 昭平县| 绵阳市| 陆良县| 石屏县| 华阴市| 中卫市| 贵南县| 安西县| 聂荣县| 宜川县| 稻城县|