10/2/08- Market Plunges on Economy Fears

10/2/08- The Dow plunged 348.22 points today to close at 10,482.85; the S&P 500 lost 46.78 to close at 1,114.28 and NASDAQ closed at 1,976.72 down 92.68. The Ten Year Treasury Note gained .91 to close at 103 driving the yield down to 3.63%. Oil lost $4.56 per barrel to close at $93.97. The dollar gained .02265 against the Euro so that one Euro will buy $US1.38007. Today's bad day was the result of bad economic news - weekly jobless claim rose more than expected while August factory orders declined worse than expected. There is still concern that the bailout legislation will not pass the House even though the Senate approved it. That's it for today from Atlanta.