Stocks Fall on Bank Losses, Oil and Gold Up
US Stock Indexes were smacked down across the board today led by further declines in financial issues. The DJIA declined -134.50 to 12503.82, the Nasdaq fell -31.13 to 2491.53 and the S&P500 gave back another -14.71 to 1385.67.
Merrill Lynch MER – fell 2.76% or $1.21 to $42.71 after Standard & Poors lowered its debt rating on the 3 largest Wall Street Firms. Lehman Brothers
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PowerRating) and Morgan Stanley
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Wachovia
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Frontier Oil
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Arcodia Therapeutics
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Oil climbed .37 cents to $127.72/barrel, Gold added $5.50 to 897.00 and the VIX jumped 11.27% to 19.84 during the session.
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