Thursday, October 9, 2008

Stocks Fall Is Not Good At All

Towards the close of trading, stocks declined today, sending the Dow Jones industrial average down more than 675 points. That's more than 7%! This brings the Dow to it's lowest level in 5 years after a major credit ratings agency said it was considering cutting its ratings on General Motors Corporation. The Standard & Poor's 500 index also fell more than 7%. GM is currently under review by the Standard & Poor's Rating Services. Maybe GM will be able to keep a decent rating despite struggling with weak car sales in North America.

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