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 Dow closes below 6,800 for the first time since '97


[b]Dow closes below 6,800 for the first time since '97[/b]

Investor worries about the economy in general, and financial companies in particular, continued to erode the markets on Monday as the Dow Jones industrial average fell below 6,800 points for first time since October 1997.

"It's pretty despondent everywhere," said Dwyfor Evans, a strategist at State Street Global Markets in Hong Kong. "O.K., there are signs that some of the leading indicators have stabilized to some extent, but it's at a very, very low level, and we're not seeing corporate investment picking up, or consumers starting to spend again — in other words, the traditional mechanisms by which economies come out of a recession are absent at this time."

At the close, the Dow was down 299.64 points, or 4.2 percent, to 6,763.29 points. The Standard & Poor's 500-stock index declined 34.27 points or 4.6 percent, but remained just above 700. The Nasdaq fell 3.9 percent. ...

read more: http://www.iht.com/articles/2009/03/02/business/03marketsD.php


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SI Moderator - Greg Gordon

 2009/3/3 22:46Profile
enid
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Joined: 2006/5/22
Posts: 2674
Nottingham, England

 Re: Dow closes below 6,800 for the first time since '97

Mark 10v24, '...how hard it is for those who trust in riches to enter the kingdom of God'

1 Timothy 6v17, 'Command those who are rich in this present age not to be haughty, nor to trust in uncertain riches but in the living God, who gives us richly all things to enjoy'

Though God gives us all things to enjoy, we seem to have abused the use of money, and we are now seeing and feeling that abuse.

Let our hope, trust and confidence be in the one true God.

God bless.

 2009/3/4 6:01Profile
HeartSong
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Joined: 2006/9/13
Posts: 3165


 Re: Dow closes below 6,800 for the first time since '97

"So that the fishes of the sea, and the fowls of the heaven, and the beasts of the field, and all creeping things that creep upon the earth, and all the men that are upon the face of the earth, shall shake at my presence, and the mountains shall be thrown down, and the steep places shall fall, and every wall shall fall to the ground." [i]- Ezekiel 38:20[/i]

If you look at the stock market in terms of a line chart, it would indeed appear that the mountains are falling.

 2009/3/4 7:13Profile





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