Stocks Plunge as Wall Street Looks Back on Crash of 87
Stocks celebrated the 20th anniversary of “Black Monday” by plunging, with the Dow losing nearly 367 points. On October 19, 1987, the Dow lost 508 points, which represented a 22.6% decline, the largest ever one-day loss on a percentage basis.
In broad-based selling, only one industry group closed higher today (see below).
Schlumberger
(
SLB |
Quote |
Chart |
News |
PowerRating) reported a 35% jump in Q3 profit (read more).
Third quarter earnings rose by 21% at Caterpillar
(
CAT |
Quote |
Chart |
News |
PowerRating) but the company lowered its forecast for the year (read more).
Q3 profit fell by 10% at Wachovia
(
WB |
Quote |
Chart |
News |
PowerRating) (read more).
Alltel
(
AT |
Quote |
Chart |
News |
PowerRating) reported a 51% rise in third quarter profit (read more).
Boston Scientific
(
BSX |
Quote |
Chart |
News |
PowerRating) reported a loss for Q3 (read more).
Treasuries rose, the U.S. dollar is fell, with the dollar index hitting a record low and crude oil climbed above $90 per barrel (read more).
| Market Snapshot | ||||||||||||||||||||||||||||||||||||||||||||
|
|
Strongest/Weakest Industry Groups |
||||||||||||||
|
Economic News |
|
|