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Market tanks amid fear, uncertainty and doubt
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Posted on
Mar 20 2008 7:09 AM
by
adeal
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The glow is coming off yesterday's huge Fed rate cut. Just as I expected, the market gave back much of yesterday's huge gains. Investors sent the Dow Jones industrial average down 293 points, or 2.36%, to 12,099.66, while the Nasdaq Composite Index fell 58.30, or 2.57%, to 2,209.66 and the S&P 500 tumbled 32.32, or 2.43%, to 1298.42. Market watchers, who were jubilant yesterday, were downright depressed today. "This whole market is driven by fear right now,'' James Gaul, a portfolio manager at Boston Advisors LLC told Bloomberg News.
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