8/29/08 - Market Drops on Broad Based Pessimism

The Dow plunged 169.76 to close today at 11,545.42 while S&P 500 lost 17.77 to close at 1,282.91. NASDAQ closed at 2,367.52 down 44.12. Oil was down .13 to close at 115.46 per barrel and the 10 Year Treasury Note was down .56 driving the yield up to 3.85. The Dollar gained .003 against the Euro so one Euro buys $US 1.4677. The markets dropped today despite a decline in oil prices due to an overall pessimism in the markets especially in the financial sector. For the week, the Dow was down 83, the S&P was down 10 and NASDAQ was down 44. Have a safe holiday weekend, signing off from Atlanta.