Dow Jones crashed by more than 200 points

• Author: Lalitha
• Filed under: Stock Market Crash, World Market
• Date: Dec 19,2008

>Dow Jones industrial average (INDU) lost almost 200 points or so to be correct its 219 points, or 2.5 Percent.
>Standard & Poor’s 500 (SPX) index down by 19 points, or 2.1 percent.
>Nasdaq composite (COMP) down by 27 points, or 1.7 percent. IT was volatile kind of until the last hour and there was lot of profit booking happening so it just went down in the final hours.
What moved the market

>GE has credit outlook lowered to negative
>Initial jobless claims and continuing claims dip, both essentially in-line with expectations
>FedEx, Nike top quarterly earnings estimates
>Reports indicate General Motors and Chrysler reopened merger talks, but GM denies the claim
>Reports suggest $850 billion stimulus in the making, It was i think atleast 750 billion dollar again over a year or so.