Friday, October 10, 2008

Wild ride on the Dow

It was a wild ride on the Dow Jones Industrials today as it went from a low of -700, up to +300, and closing at -128. At it's lowest point today, the Dow was down 696 pts. to 7,882.

The Dow lost 2,271 pts. in the last seven business days. No one seems to know where the bottom is and a G7 financial meeting is scheduled for the weekend in hopes that the international financial community can come up with some global solutions.

The only really good news is that oil is selling for $77 a barrel, after a high of $147 a barrel in August of this year. The price of gas at the pump should continue to drop.

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