8/25/08 - Market Down on Bad Housing, Auto & Oil News

The Dow dropped 241.73 today to close at 11, 386 while the S&P 500 lost 25.33 to close at 1266.87. NASDAQ closed down 49.12 at 2365.59. Oil was up .52 to $115.11 per barrel. The Ten Yr. Treasury Note gained 7.2 to close up to 101.75 to decrease the yield to 3.78. The Dollar lost .003 against the Euro. One Euro will buy 1.47471 US Dollar. Besides the increase in oil the market was down because of fears that there are increased housing inventories even though July home sales were up a bit. It looks like auto sales for August will be down as well. The techs were pulled down by Apple, Research in Motion & Qualcom. Have a good evening from a rainy Atlanta.