10/7/08- S&P Suffers 5th Down Day in a Row; Dow Plunges 508

10/7/08- The Dow fell 508.39 today to close at 9,447.11 while the S&P 500 plunged 60.66 to close at 996.23. NASDAQ lost 108.08 to close at 1754.88. Oil rose $2.25 per barrel to cose at $90.06 per barrel. The Ten Year Treasury Note was down .22 to close at 104.25 pushing the yield up to 3.49%. The dollar lost .01322 against the Euro so one Euro will buy $US 1.36184. Today's disastrous day resulted from Chairman Bernanke's remarks concerning increased economic risks and Bank of America announcing worse than expected earnings and a dividend cut. The market is now in uncharted territory and no one can say with certainty what will happen tomorrow including this observer. That's it from Atlanta for today.