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On Friday the Dow Jones took a 280 point nosedive on fears that that losses in the subprime market will spill over into the broader economy and cut into GDP. Ever since the two Bears Sterns hedge funds folded a couple weeks ago the stock market has been writhing like a drug-addict in a detox-cell. Yesterday’s sell-off added to last week’s plunge that wiped out $2.1 trillion in value from global equity markets.
Originally posted by princeofpeace
I think the Dow went up over 260 points today right? I dont know if that constitutes a melt-down because the Doow fluctuates on any given day.