Stock Market Takes a Beating…

At one point, the Dow Jones was down nearly 1,000 points today.

Luckily for investors, the market has gained back nearly 2/3 of what it at one time had lost today.

Pretty crazy!

From the New York Times:

The market decline on Thursday turned into a freefall, with major indexes tumbling more than 8 percent in afternoon trading. And the euro declined more than 2 percent.

In afternoon trading, the Dow Jones industrial average was down 8.8 percent, or 996 points. The Standard & Poor’s 500-stock index was down 90 points or 7.73 percent, and the Nasdaq was down 175 points, or 7.2 percent.

Investors took in the latest reports in the United States on jobless filings, retail sales and productivity, and then turned their attention back to Europe and the concerns that Greece’s debt problems might spread.

From the Associated Press:

Stocks are plunging as investors give in to fears that Greece’s debt problems will spread and halt the global economic recovery.

The Dow Jones industrial average is down more than 870 points and Treasury prices are soaring. Computer program selling is intensifying the selling.

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