Market Tests January Lows, Sell Off Continues
A big day today for the market as the indices across the board tested their previous lows from January.
The NASDAQ Composite finished the day down only .36% to a close of 1,212.49 and the S&P 500 closed down .84% to 1,293.37. Both of these closes are at fresh 52 week lows.
Over the last six days the NASADQ Composite has shed 5.1%. It really begs the question, “where to from here?” With oil hitting record highs, payroll numbers coming in sour, and household equity hitting historic lows, things look pretty bleak.
Perhaps next week things will look up, but then again who knows. Sometimes it works to simply wear a helmet and hope for the best.
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POSTED IN: Market
1 opinion for Market Tests January Lows, Sell Off Continues
Jean Murray
Mar 10, 2008 at 8:50 am
Hi, Blain. Welcome to b5media.
In contrast to the negative news, I heard this morning that manufacturing production is up over 7 percent, not including aircraft and military. Sometimes I think we focus too much on the negative, and the bad news forces us into a “self-fulfilling” prophecy of recession. The economic news is NOT all bad.
Jean
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