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US markets plunge on weak housing data
Published on Fri, Jul 25, 2008 at 09:39 , Updated at Fri, Jul 25, 2008 at 11:50
Source : CNBC-TV18
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CNBC' s Margaret Brennan - The Dow closed down by triple-digits off 283 points on Thursday, the Nasdaq 2% lower down 44 points part of that pressure came under more negative news on housing market. Sales of existing homes took a bigger than expected hit in the month of June The National Association of Realtors says sales fell 2.6% that’s 15.5% lower than a year ago. Homebuilders fell with KB Home shares trading down 3%, Pulte Homes falling 14%. Bank stocks broke their winning streak with Lehman Brothers falling 12%, Merrill Lynch down 14% and UBS who is 7% lower after the announcement that New York Attorney General Andrew Cuomo is suing two UBS units for misrepresenting the clients the risks of auction-rate securities before the USD 330 billion auction-rate seized up early this year. Wall Street action: Dow closes 283 pts lower |
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All that money you`ve lost — where did it go?
continued.... Jorgenson says no — the amount of wealth in the world "simply decreases in a situation like this."...
in Other Market Topics - my_money at 13-Oct-08 08:47
All that money you`ve lost — where did it go?
Trillions in stock market value — gone. Trillions in retirement savings — gone. A huge chunk of the money you paid ...
in Other Market Topics - my_money at 13-Oct-08 08:46
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