Global recession fears hit Wall Street
October 24th, 2008
Flucuating wildly again on Friday, the Dow ended down more than 300 points on
fears the rest of the world's markets are headed into recession territory.
While not as grim a decline in stock value as many analyists had predicted
today, the Dow is still down for the week and at its lowest level in 5
years.
Stocks all over the world tumbled as third-quarter earnings came
in. It's becoming increasingly obvious to many investors that the world economy
is headed for a severe downturn. Government interaction is doing little to quell concerns that the market won't be stablizing anytime soon.
Now
at just over 8,300 points, the Dow is at its worst since April of 2003. It fell
nearly 5.4% for the week. Next week is not likely to bring any relief and most
believe things will get even uglier. With the holiday season right around the
corner, recession fears and rising unemployment rates might make it a very
unhappy holidays.










