Dow Ends Down 400, Gold Well Above $1800

JeeYeon Park
August 18, 2011

Stocks closed off their worst levels Thursday, but were still down sharply, following a handful of disappointing economic news and over continuing worries over the stability of euro zone banks.

All three major indexes are on track for the worst month in almost three years.

The Dow Jones Industrial Average tumbled 419.63 points, or 3.68 percent, to finish at 10,990.58, led by Alcoa [AA 11.51 -0.75 (-6.12%) ], BofA [BAC 7.01 -0.45 (-6.03%) ] and Hewlett-Packard [HPQ 30.41 -0.98 (-3.12%) ]. The Dow was down almost 530 points in its session low.

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Slowdown Fears Slam U.S. Stocks

Wall Street Journal
August 18, 2011

Stocks tumbled amid growing fears of a global recession, as investors confronted a grim mix of U.S. economic data and fresh concerns about Europe’s banks.

The Dow Jones Industrial Average ended down 419.63 points, or 3.7%, to 10990.58. The Standard Poor’s 500-stock index dropped 53.24 points, or 4.5%, to 1140.65, while the Nasdaq Composite lost 131.05 points, or 5.2%, to 2380.43.

In the flight to safety, investors piled into gold, which jumped to a new record of $1,818.90 a troy ounce, up 1.55%. In the Treasurys market, the yield on the benchmark 10-year note briefly dipped below 2% in intraday trading for the first time since at least 1954, as investors sought refuge in U.S. debt.

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One Response to “Dow Ends Down 400, Gold Well Above $1800”

  1. Notice when the dow drops through the floor oil is sure to follow for no other reason than its price is completely controlled by those who use oil to steer the economics of the world. Evidently then they want to arrest the drop of the market at this time.

    The price of oil is the precise and current indicator of the globalists’ desire for the economy.


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