Wall Street Plunges; Dow Drops 358 Points

BusinessWall Street Plunges; Dow Drops 358 PointsWall Street Plunges; Dow Drops 358 PointsThe Associated PressWall Street plunged Thursday, hurtling the Dow Jones industrials down to their lowest point in nearly two years as investors contended with a barrage of bad news: a surge in oil prices past $140 a barrel. (June 26)Wall Street plunged Thursday, hurtling the Dow Jones industrials to their lowest point in nearly two years. Investors contended with a barrage of bad news: a surge in oil prices that shot them past $140 a barrel and warnings of trouble in the key financial, automotive and high-tech industries.SOUNDBITE (ENGLISH): Alec Young, Standard&Poors Equity Analyst:"We're seeing some new negatives emerge. We had worse than expected guidance from Nike, Research In Motion and a few other key companies and that's got people feeling that the earnings risks are spreading from the financial area to other areas of the economy, other areas of the market and that's what's really driving the heavy selling today."The Dow closed down 358 points or 3 percent, to 11,453. That's the lowest finish since Sept. 11, 2006. Broader stock indicators also fell sharply. The Standard&Poor's 500 dropped 39 points to 1,283, and the Nasdaq slid 80 to 2,321.37. Negative analyst comments about General Motors sent that stock to its lowest level since 1975. Citigroup meanwhile, fell sharply after an analyst placed a "sell" rating on the stock. Disappointing outlooks from Oracle and Research In Motion soured moods and made the tech sector one of the steepest decliners. ___ ___, The Associated Press.(****END****) ANCHOR VOICE:-------------------------

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[Audiomuse]

Do something USA!

We all need to work together.

Use less gas, develop public transportation, buy American products for now, and whip ourselves back into shape.

GET A GOOD EDUCATION KIDS!

This is coming from a kid himself

[TheDalliance]

As long as we keep feeding the top 2% our hard-earned money by endlessly shopping and re-financing, those fat cats will continue to eat us out of house and home - literally! It's time to stop depending on crooked politicians and corrupt bankers to change things. It's time for US as indivuals to change, and leave our un-sustainable consumerism behind.

Google "Bankrupt Is The New Black" and watch.

[ttpad08]

just think....

a few months later....

[BarkyVonSchnauzer1]

ATTENTION: New Obama Law! All white people must report to the cotton fields tomorrow morning at 7:00 a.m. for orientation!

[christardo]

Alot of peopel are going to die :) good luck, the 9/11 truthers knew this 7 years ago, enjoy the great depression

[christardo]

Strong :)

[bynddrvn5]

You should be nice to foreigners, especially when they will own the US soon. At what point will you figure out your GOP buddies sold you out?

[bynddrvn5]

Think this is bad wait to see the US after the next presidential election, people are voting based on fear and not their wallets. If Obama gets in we have chance, if McCain and is group of corporate lobbyist buddies get in we are screwed. The economy is one of the main reasons Warren Buffet picked Obama for president.