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Melt-Dow-n: Dow Dips Below 8,000

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Oct 10, 2008 9:45 am US/Eastern

Melt-Dow-n: Dow Dips Below 8,000

 Timeline: U.S. Credit Crunch & Financial Failures

 View Market Summaries & Leading Stock Changes
NEW YORK (AP) ― The devastating selling continues on Wall Street, with investors again dumping stocks in early trading. The Dow Jones industrials, already down 2,271 points in seven sessions, are down more than 300 after dropping as much as 696.

The major indexes are fluctuating sharply as some computer-driven "buy" orders kick in, but investors are selling heavily as markets around the world panic because credit markets remain frozen and pose a threat to the global economy.

The Dow is off 317 at the 8,261 level. The Standard & Poor's 500 index is down more than 4 percent, and the Nasdaq composite is down nearly 3 percent.

(© 2009 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)

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