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U.S. Stocks Plunge To Levels From The Great Depression

Published 06/27/08 Jeff Bennett - Print Article
E-mail - editor@economyincisis.org

The economy took a severe blow yesterday when U.S. stocks dropped to their lowest in years while June witnessed its lowest index since 1930. American companies are struggling as consumers find it difficult to manage through sky-rocketing gas prices, the housing crisis, rising inflation, high unemployment and so on. Each part of the Dow finished in the negative yesterday.

Source Market Watch:

U.S. stocks fell sharply Thursday with the blue-chip index enduring its worst June so far since 1930, and plunging to its lowest finish since Sept. 11, 2006, after getting slammed hard as crude soared to new highs and Goldman Sachs disparaged U.S. brokers and advised selling General Motors Corp.

"We're going to move in the opposite direction of oil, and General Motors is going to go out of business, at least according to Goldman Sachs," said Art Hogan, chief market strategist at Jefferies & Co.

…

All of the Dow's 30 components closed in negative territory.

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