Three Digit Losses in Dow, US Market in Bear Grip
Sell off in financial shares at Wall Street pulled all three major indexes into bear market. Fannie Mae and Freddie Mac, were 20% down and helped to accelerate the fall on Monday.
Financial stocks started being sold off after comments from an Federal Reserve official raising questions about the odds of an economic recovery this year.
Federal Reserve Bank of San Francisco president Janet Yellen warned Monday that the downturn in the housing market and the credit crisis plaguing Wall Street could worsen before the economy recovers.
If you enjoyed this post, please consider to leave a comment or subscribe to the feed and get future articles delivered to your feed reader.
Comments
No comments yet.
Leave a comment