Breaking News Alert
The New York Times
Wednesday, November 19, 2008 -- 4:15 PM ET
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Stocks Fall Sharply on Fears of Deepening Recession
As hope for an emergency bailout faded Wednesday for American
automakers, shares on Wall Street began to slide. The Dow
Jones industrial average was down 427.47 points, or 5
percent, settling below 8,000, while the broader Standard &
Poor's 500-stock index was 6.1 percent lower. The
technology-heavy Nasdaq composite index was down 6.5 percent.
"It's painful," said Howard Silverblatt, senior index analyst
at Standard & Poor's. "A lot of people have pulled a lot of
cash out. They're sitting on the side. It's all I hear all
day: 'Where can I hide?'."
Read More:
http://www.nytimes.com/?emc=na
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