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NEW YORK (CNNMoney.com) -- The Dow and S&P 500 tumbled to levels not seen in nearly 12 years Monday, as investors continue to worry that the government's efforts to slow the recession won't be sufficient.
The Dow Jones industrial average (INDU) lost 250 points, or 3.4%, according to early tallies., ending at the lowest point since May 7, 1997.
The S&P 500 (SPX) index lost 26 points, or 3.5%, ending at the lowest point since April 11, 1997.
The Nasdaq composite (COMP) lost 53 points, or 3.7%. The tech-fueled index has held up better than the rest of the market so far this year, closing at the lowest points since Nov. 20, 2008.
Originally posted by xbranscombex
10$ says it'll be in the 6k range tomorrow.
Originally posted by Hypntick
As long as they're not saying "lowest level since 1937" i'm not gonna go insane yet.
When that happens though.....look out
Originally posted by dolphinfan
reply to post by xbranscombex
The other thing that will get folks worked up is that the very dudes many are railing about who have made a ton of money over the past 8 years and are placed at the center of blame for this mess are making a killing right now shorting the market and making bank on the incompetence of the government. I not saying that they were not a part of the problem, they were. But do the math and see what a $1m short sale on the S&P placed 10 days ago would have paid you.
Originally posted by visible_villain
I'm sure it's only due to 'short term market uncertainty'