精品久久久久黄,久久国产热播视频

Videos
Photos

Dow drops below 7,000 point mark - first time since 1997

(Agencies)
Updated: 2009-03-03 07:59

A board on the floor of the New York Stock Exchange shows the closing number of the Dow Jones Industrial Average, Monday, March 2, 2009. [Agencies]

While the root of the problem for the financial firms is the bad bets they made on mortgages and mortgage-backed securities, now the recession is exacerbating their problems, forcing job cuts.

"The economy definitely has deteriorated since November," said Sean Simko, head of fixed income management at SEI Investments. "It's just the fact that we haven't seen signs of improving or stabilizing, per se, which is adding to the morass of the market."

Mixed economic readings provided little reason to expect a turnaround. Personal spending and incomes both rose for January, but construction spending fell 3.3 percent, more than twice what economists expected.

And coming later this week is much bigger, and more unnerving, data. The government on Friday will report the national unemployment rate and job losses for February. Those figures have been worse month after month.

So far, the economic readings and news coming out of financial companies are still so alarming that investors feel no alternative but to sell.

"I don't think we find a bottom in the market until we see some sort of increased level of optimism and confidence among consumers and investors," said Jim Baird, chief investment strategist at Plante Moran Financial Advisors.

Both the Dow and the S&P have lost more than half their value since the market peaked in October 2007. In that time, about US$11 trillion in wealth has vanished, according to the Dow Jones Wilshire 5000 index, which tracks nearly all stocks traded in America.

Last week, the Dow and the S&P 500 fell below the levels they had reached Nov. 20 and 21 -- to that point their lowest since Lehman Brothers imploded in September and set off the financial meltdown.

Investors had hoped those levels might mark a market bottom, but it hasn't happened.

Big-name investors are just as cautious. Billionaire Warren Buffett predicted in his annual letter to investors Saturday that "the economy will be in shambles throughout 2009 -- and, for that matter, probably well beyond." He cautioned that did not determine whether the market would rise or fall.

And even when the market finally reaches a bottom, it probably faces a long, long recovery.

"We do feel that things can improve, but it is going to be years before we get back to levels we saw in the markets a year ago," said David Chalupnik, head of equities at First American Funds.

Previous page 1 2 3 4 5 6 Next Page

国产热热热精品,亚洲视频久久】日韩,三级婷婷在线久久,99人妻精品视频,精品九热人人肉肉在线,AV东京热一区二区,91po在线视频观看,久久激情宗合,青青草黄色手机视频