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DJI under 9000 points

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by Brian Turner
DJI under 9000 points

Hell – the DJI has already fallen through 9,000 tonight, only 4 days after crashing through 10,000 points – and the fall is continuing through the last half hour of normal trading.

Currently the DJI is just above 8,900 points, a loss of over 3.8% on the day.

That’s a consecutive loss of 18% over just 1 week.

US financials have almost reached the bottom points they hit on July 15th.

However, with Lehman debt coming up tomorrow, and WaMu at the end of the month, it’s hard to see how investors can easily regain confidence in US financials as yet.

Tomorrow will probably be the clincher – if most companies can survive that intact, then quarterly results from October 15th could yet rally the bulls.

It’s easy to be pessimistic if the week continues in this trend.

US nationalises banks over this weekend?

UPDATE: Ten minutes later, another 100 points gone – 10 a minute.

UPDATE 2: It’s a crash – 15 minutes trading left in New York and almost 7% gone – DJI now at 8616.

UPDATE 3: Market Close Despite an attempted rally on the markets, the DJI closed at 8579.19 – down 678.91 points, or 7.33% on the day.

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News posted: October 9, 2008

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