The Dow Jones Industrial Average fell below 11,000 for the first time in two years. Worries about Fannie Mae, Freddie Mac, oil, and more caused the Dow to fall over 200 points so far. One portfolio manager told Bloomberg News, "It's the worst of both worlds. Watching two government-sponsored entities evaporate before our eyes from an equity perspective, and the damage that does to investor confidence on the one hand, and watching the price of oil, which is clearly meaningful from a consumer and business perspective, continue to escalate upward creates other pressures.''
Published Jul 11, 2008
Modified Jul 11, 2008
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