Tags: s&p | stocks | wall street

Wall St. Plunges on Downgrade, S&P Falls 6 Pct.

Monday, 08 Aug 2011 04:33 PM

Stocks plunged on Monday, with the S&P down more than 6 percent for its largest drop in nearly three years on rising fears of a recession exacerbated by the United States' loss of its triple-A credit rating.

Panicked selling on heavy volume resulted in the S&P's worst day since December 2008 with every stock in the benchmark index's components ending in negative territory.

The Dow Jones industrial average dropped 634.76 points, or 5.55 percent, to end unofficially at 10,809.85. The Standard & Poor's 500 Index sank 79.92 points, or 6.66 percent, to finish unofficially at 1,119.46. The Nasdaq Composite Index lost 174.72 points, or 6.90 percent, to close unofficially at 2,357.69.


_________________________________________________________
Editor's Note: Exposed: Obama’s and Bernanke’s Orchestrated Misdirection
This gripping Newsmax investigative report reveals the truth about America’s economic future. Watch, learn, and receive a free Survival Guide ($49 value) for your personal financial future. This Video Tells All. Click Here to Watch.

__________________________________________________________

© 2017 Thomson/Reuters. All rights reserved.

1Like our page
2Share
StreetTalk
Stocks plunged on Monday, with the S P down more than 6 percent for its largest drop in nearly three years on rising fears of a recession exacerbated by the United States' loss of its triple-A credit rating. Panicked selling on heavy volume resulted in the S P's worst day...
s&p,stocks,wall street
156
2011-33-08
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved