Market’s Core Shaken, AIG Falls Hard, Lehman Bankrupt
An historic day in the financial markets led by the collapse of the once mighty Lehman Brothers and Merrill Lynch being sold to Bank of America. These events triggered a massive, across the board sell off adding to the profound economic fear sweeping the globe. The S&P 500 experienced its sharpest drop in 6 years and rumors swirl on the street regarding other large bank collapses such as Citibank. The DJIA imploded -495.12 to 10926.87, the Nasdaq was smacked down -81.36 to 2179.91 and the broad based S&P 500 experienced a massive loss of -57.99 ending the day at 1193.71.
Lehman Brothers
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American International
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Panera Bread
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Take Two Interactive
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Gold climbed $23.70 to $788.20/oz, oil dipped $6.49 to $94.69/barrel and the fear gauge VIX jumped 2.81% to 31.11.
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