U.S. stocks open down sharply on weak economic reports
NEW YORK (MarketWatch) -- U.S. stocks opened sharply lower on Monday, shaving off some of the strong gains from last week, as economic reports from around the world fueled concerns about a global recession. The Dow Jones Industrial Average fell 249 points, or 2.8%, to 8,582. The S&P 500 index fell 27 points, or 3%, to 867, while the Nasdaq Composite lost 47 points, or 3%, to 1,487. Manufacturing gauges in China, the euro zone and Britain each showed significant drops, with the Chinese and British gauge dropping to record lows. Also out on Monday will be the Institute of Supply Manufacturing gauge on manufacturing in November, which also is expected to slump.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – Dec 1, 2008 2:36 PM [GMT]
found in Business: Markets
NEW YORK (MarketWatch) -- U.S. stocks opened sharply lower on Monday, shaving off some of the strong gains from last week, as economic reports from around the world fueled concerns about a global recession. The Dow Jones Industrial Average fell 249 points, or 2.8%, to 8,582. The S&P 500 index fell 27 points, or 3%, to 867, while the Nasdaq Composite lost 47 points, or 3%, to 1,487. Manufacturing gauges in China, the euro zone and Britain each showed significant drops, with the Chinese and British gauge dropping to record lows. Also out on Monday will be the Institute of Supply Manufacturing gauge on manufacturing in November, which also is expected to slump.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
MarketWatch.com – Dec 1, 2008 2:36 PM [GMT]
found in Business: Markets
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