Tuesday 7 October 2008

Wall St plunges on caution comments from Ben Bernanke

In the US markets, stocks plunged in the dying minutes of trade as comments from Fed Chairman Ben Bernanke failed to soothe jittery markets. Dow Jones lost about 508 points, a figure eerily similar to the close on black Monday in 1987.

Nasdaq, in fact was the worst hit with a drop of almost 6%. Interestingly the VIX, notched a second straight record, closing at nearly 54.

The Dow plunged 508.39 points, or 5.11%, to 9,447.11. The S&P 500 slipped 60.66 points, or 5.74%, to 996.23. The Nasdaq composite index lost 108.08 points, or 5.80%, to 1,754.88.

Source: MoneyControl

Posted by Harsh at 20:41

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