9/17/08- Market Swoons as LIBOR Rate Doubles

The Dow plummeted 449.36 to close at 10,609.66 while the S&P 500 shed 57.21 to close at 1156.39 and NASDAQ closed at 2,098.85 down 109.05. Oil was up 5.94 per barrel to close at 96.96. Ten year treasury note was up .63 bringing the yield down to 3.41%. The U.S. Dollar lost .02204 against the Euro so one Euro buys US $ 1.43308. Fear gripped Wall Street as things not seen rocked the Street, the major factor being the LIBOR rate doubling overnight! More on the turbulent market from Atlanta tomorrow.