Daily Archives: 2008/10/27

DJIA Closes at 5 Year Low 8175

Monday the Dow Jones Industrial Average [DJIA] Fell 203 Points to its lowest close in over 5 years. Most all of the decline came in the last 10 minutes of the trading session with Forced Selling by hedge and mutual funds , selling off assets so they can meet investors’ demands for their money back.

Confidence is Razor-thin in this Turbulent Market and the sellers are taking over.

Moody’s downgraded General Motors Corp further into “JUNK” status.

This has been the most Devastating Month for the stock market since 1931.

Crude Oil fell 93 cents to $63.22 a barrel on the New York Mercantile Exchange.

The Yield on the Benchmark 10 Year Treasury Note fell to 3.69 percent.

The US Dollar was higher against currencies except for the yen.

Gold rose to $736 an ounce.

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