Dow Ends Down, Financials still Shaky
By SmallStocks on Oct 15, 2008 in USA
The Dow Jones Industrial Average (DJI) ended 76.62 down last night, to close around 9,310.99 after a day heavy profit taking shook stocks and reduced the markets massive gains seen on Monday. The Dow surged almost 400 points in early trading but faded significantly in the afternoon session. It was bound to happen, since investors are trying to recoup some of the multi-billion dollar looses that have shaken the market in recent weeks.
As I stated yesterday, the market still needs to piece together a realistic opinion of the USA’s economy and it’s fundamentals. The market is still definitively uncertain in the States, and despite the Government Inject announcement – 21 of the 30 Dow Components were left lower.
Of note, Bank of America (BAC) was up 15.6% and Citigroup Inc (C) was up 18.2%.
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