Down, Down, Down Again! Dow sinks to new low since 2003
November 20th, 2008
Investors pulled money out of stocks on the market all day as many feared the current recession will only get worse unless the federal government can bail out the troubled auto industry.
The course the market has taken since September hasn't changed much, and it continues to look unlikely that it will rebound anytime soon. Giving up more than 400 points on Wednesday, the Dow continued on its downward spiral as it quickly approaches lows seen in 2000 and 2002.
No vote came today regarding the allocation of part of the $800 billion bailout to the auto industry. Many believe when Congress does vote that the bill will stall, leaving the three major auto manufacturers without the needed revenue they feel is vital to saving the industry.
Most analysts feel a substantial loan to the auto industry giants will come, but until word of when comes, the market will continue to fall.
