Monday, March 02, 2009

MARCH 3, 2009 Stocks Hit '97 Level, Signaling Long Slump

The Dow Jones Industrial Average tumbled below 7000 for the first time in 12 years as investors around the globe appeared to be giving up hope and girding for a prolonged recession.

U.S. investors joined a world-wide selloff that began in Asia and rippled through industries from financials to consumer durables to technology. The Dow dropped 4.2% to 6763.29, its lowest close since April 1997. It has lost almost one-quarter of its value this year and more than half since its high in October 2007.


Guess you know why we are still holding.

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