[lbo-talk] ooops

[Doug Henwood]

Some incredibly smug bull was on CNBC this morning when I was  
pedaling away on the stationary bicycle bragging about how  
wonderfully wonderful it was that the stock market was holding up  
this week despite a barrage of bad economic news. "Unless we close  
down 240 points today," a prospect he clearly thought near- 
impossible, "we'll be up on the week." Well....


> MARKET ALERT
> from The Wall Street Journal.
>
>
> Feb. 29, 2008
>
> The Dow Industrials dropped 2.5%, or more than 315 points, as an  
> ugly earnings report from insurance giant American International  
> Group brought investors' concerns about the health of the credit  
> markets back to the fore. AIG fell 6.6%, and shares of other  
> bellwether financial firms like Citigroup, Bank of America, Lehman  
> Brothers and Morgan Stanley suffered steep declines. The Dow ended  
> the week lower by 0.9% and fell 3% during February.
>
> The Nasdaq Composite Index and the S&P 500 Index also saw deep  
> slides on Friday, ending down by 2.6% and 2.7%, respectively.
>
> FOR MORE INFORMATION, see: http://online.wsj.com/article/ 
> SB120428610662802811.html?mod=djemalert