9/23/08-Markets Continues to Fall on Concerns about Bailout Plan

9/23/08- The Dow continues to drop, today by 161.52 to close at 10,854.17. NASDAQ lost 25.64 to close at 2,153.34 while the S&P 500 lost 25.64 to close at 2,153.34. Oil lost 2.76 per barrel to close at 106.61. The Ten Year Treasury Note gained .16 to close at 101.44 driving the yield down to 3.82%. The Dollar gained against the Euro .00980 so one Euro buys US$ 1.47059. Today's market dip was the result of uncertainty resulting from testimony before the Senate Banking Committee by Fed. Chairman Bernanke, Treasury Secretary Paulson and SEC Chairman Cox who are arguing for the purchase of $700 billion in toxic mortgages. There were several downgrades of earnings estimates. That's it for today from Atlanta where I waited an hour today to buy gasoline.