Stock market on Thursday, September 11, 2008

Posted by admin on September 11, 2008 under Stock market |

Stocks tumbled Tuesday after fresh worries about the stability of Lehman Brothers Holdings Inc. touched off renewed jitters about the overall financial sector. Unease about Lehman punctured a sense of optimism about the financials that had existed a day earlier following the government’s plan to seize control of mortgage lenders Fannie Mae and Freddie Mac. Lehman plunged 45 percent Tuesday following media reports it was having trouble finding fresh sources of capital. Tuesday’s pullback more or less erased gains from a big jump in stocks seen Monday.

The Dow Jones industrial average fell 280.01, or 2.43 percent, to 11,230.73.
The Standard & Poor’s 500 index fell 43.28, or 3.41 percent, to 1,224.51.
The Dow Jones industrial average rose 164.79, or 1.46 percent, to 11,433.71.
The Standard & Poor’s 500 index rose 17.01, or 1.38 percent, to 1,249.05.
The Nasdaq composite index rose 29.52, or 1.32 percent, to 2,258.22.

For the week:

The Dow is up 212.75, or 1.90 percent.
The S&P is up 6.74, or 0.54 percent.
The Nasdaq is up 2.34, or 0.10 percent.

For the year:

The Dow is down 1,831.11, or 13.80 percent.
The S&P is down 219.31, or 14.94 percent.
The Nasdaq is down 394.06, or 14.86 percent.