Tuesday, August 19, 2008

8/19/08 Market Declines Due to Rising Wholesale Prices

The Dow lost 130.84 today to close at 11348.55 while the S&P lost 11.91 to close at 1266.69. NASDAQ closed at 2384.36 down 32.62. The bad day was caused by reports that whoelsale prices rose faster than expected and concerns that AIG and Lehman lost more than 5.9% on estiamtes that more write downs are coming. The 10 year Treasury Note was down .05 increasing the yield to 3.83. That's it from Atlanta.