10/6/08-Dow Plunges on Global Fears

10/6/08 - At one point today, the Dow was down close to 800 points but came back somewhat and closed at 9,955.50 down 369.88 while NASDAQ was down 84.43 to close at 1,862.96. The S&P 500 dropped 42.34 to close at 1,056.89. Oil was down $6.07 per barrel to close at $87.81 per barrel. The Ten Year Treasury Note was up $1.22 to close at $104.44 driving the yield down to 3.46%. The dollar gained .01331 against the Euro so one Euro will buy $US 1.35300. Today's big decline is the result of tight credit markets, overseas concerns about economic slowdown, and doubts about whether the U.S. bailout plan will work. That's it for today from Atlanta.