Markets Fall, Unemployment Soars, Dollar Rallies
Fears that the financial rescue plan will not be enough to solve the core issues combined with unemployment soaring to seven year highs worked together to knock the stock market down again today. The DJIA fell -348.62 to 10482.45, the Nasdaq was knocked down -92.68 to 1976.72 and the broad based S&P 500 gave back -46.81 to 1114.25.
Bunge Ltd
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PowerRating) fell 20.57% or $12.96 to $50.04/share as the world’s largest oilseed processor fell on the surging dollar and plummeting commodity complex.
Las Vegas Sands
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PowerRating) – The Vegas casino company gave back 16.19% or $5.07 to $26.25/share on a Morgan Stanley downgrade.
Atmel
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Ebay
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PowerRating) dropped 8.15% or $1.70 to $19.15/share after Morgan Stanley cut estimates.
Oil gave back $4.91 to $93.62/barrel, gold collapses $47.40 to $839.90 on a surging dollar and the resulting massive selling in the commodity complex.
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