Dow Drops Below 8,000

washingtonpost.com — U.S. stocks continued a relentless sell off at the opening bell as fears of global recession continue to overtake government efforts to address the financial crisis. The Dow Jones industrial average fell below 8,000, or 8 percent, a 682 point drop at the opening bell. The broader Standard & Poor's 500 fell 7 percent and the Nasdaq fell 6 percent. The market is headed toward eight days of losses as it faces deepening fears about the financial crisis and its spillover to other parts of the economy. Traders have consistently shrugged off drastic government efforts to address the problem, from a global rate cut to plans to buy toxic mortgage debt.

Read Full Article »