http://finance.yahoo.com/marketupdate/overview?u
Dow 10,917.51 Down 504.48 (4.42%)
Nasdaq 2,179.91 0.00 (0.00%)
S&P 500 1,192.70 0.00 (0.00%)
10-Yr Bond 3.48% 0.00
NYSE Volume 8,398,219,000
Nasdaq Volume 2,761,304,25
Market Update
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4:35 pm : Monday marked an extremely ugly session on Wall Street, with the S&P 500 falling 4.7% -- marking the largest one-day percent drop since the first session following the attacks on September 11, 2001.
Losses were driven by severe turmoil in the financial sector –- Lehman Brothers (LEH 0.21, -3.44) filed for bankruptcy, Merrill Lynch (MER 17.06, +0.01) sold itself to Bank of America (BAC 26.55, -7.19) and AIG (AIG 54.76, -7.38) is looking for a massive amount of cash in an attempt to stave off failure.
The S&P 500 closed at its lowest level since 2005 and is now down 18.8% year-to-date and down 24.3% from its October 2007 all-time high.
The financial sector (-10.4%) took the brunt of the selling interest, although weakness was broad-based with all ten economic sectors posting a loss. Decliners outpaced advancers by a whopping 81-to-1 ratio on the NYSE. A total of 1.88 billion shares exchanged hands on the NYSE, which would normally be considered heavy volume, but is somewhat light considering the session's developments.
Lehman Brothers filed Chapter 11 bankruptcy protection after no buyers were willing to save the troubled 158-year-old firm due to a lack of a government backstop. None of Lehman's broker-dealer subsidiaries will be included in the bankruptcy and will continue to operate. Lehman listed $613 billion in debt, which is the largest bankruptcy on record according to reports.
Dow 10,917.51 Down 504.48 (4.42%)
Nasdaq 2,179.91 0.00 (0.00%)
S&P 500 1,192.70 0.00 (0.00%)
10-Yr Bond 3.48% 0.00
NYSE Volume 8,398,219,000
Nasdaq Volume 2,761,304,25
Market Update
Add to My Yahoo! Set Alert
ADVERTISEMENT
4:35 pm : Monday marked an extremely ugly session on Wall Street, with the S&P 500 falling 4.7% -- marking the largest one-day percent drop since the first session following the attacks on September 11, 2001.
Losses were driven by severe turmoil in the financial sector –- Lehman Brothers (LEH 0.21, -3.44) filed for bankruptcy, Merrill Lynch (MER 17.06, +0.01) sold itself to Bank of America (BAC 26.55, -7.19) and AIG (AIG 54.76, -7.38) is looking for a massive amount of cash in an attempt to stave off failure.
The S&P 500 closed at its lowest level since 2005 and is now down 18.8% year-to-date and down 24.3% from its October 2007 all-time high.
The financial sector (-10.4%) took the brunt of the selling interest, although weakness was broad-based with all ten economic sectors posting a loss. Decliners outpaced advancers by a whopping 81-to-1 ratio on the NYSE. A total of 1.88 billion shares exchanged hands on the NYSE, which would normally be considered heavy volume, but is somewhat light considering the session's developments.
Lehman Brothers filed Chapter 11 bankruptcy protection after no buyers were willing to save the troubled 158-year-old firm due to a lack of a government backstop. None of Lehman's broker-dealer subsidiaries will be included in the bankruptcy and will continue to operate. Lehman listed $613 billion in debt, which is the largest bankruptcy on record according to reports.
