Dow Plunges Another 400 Points – Obama Vacations
The Street reported:
Stocks tanked amid a global selloff Thursday, spurred by escalating growth fears and disappointing U.S. economic data.
The Dow Jones Industrial Average was down by 432 points, or 3.8% , at 10,977.83. The S&P 500 was lower by 52 points, or 4.3% , at 1142, and the Nasdaq was off by 118 points, or 4.7% at 2394.
Eurozone fears reared their ugly head Thursday and sent global markets into a tailspin before U.S. markets even opened. European banks came under pressure following a Wall Street Journal report that U.S. regulators are investigating the U.S. arms of big eurozone banks to assess risks amid intensifying financial pressures.
Meanwhile, Barack Obama left for Martha’s Vineyard today. It’s vacation time.