Oct 22, 2008 Stock Market
Oct 22, 2008 Dow Plunges 300 on Fears of Deep Recession- The major indices extend their opening declines in broad-based weakness, with the S&P 500 down almost 4%. Crude oil prices have plunged 6.0% to $67.84 per barrel ahead of the government's weekly energy report at 10:35 AM ET. The Nasdaq and tech sector (-2.1%) are outperforming on a relative basis after several tech names reported earnings that pleased investors. Apple (AAPL 99.69, +8.20) reported better-than-expected quarterly earnings per of $1.26,... S&P Falls to Five Year Low on Econ WorriesU.S. Markets are closed.Global economic concerns and earnings concerns sank stocks for the second straight session. The S&P 500 spent the entire session in negative territory, falling 6.1% to its lowest closing level in five years. Weakness was broad-based with 478 of the S&P 500 components posting a loss, although volume was on the light side when considering the scope of this session's move. Similar to Tuesday, t...