NewsMine — economy — united-states — 2006-jan-aug — Viewing Item

Stocks continue to slide early june { June 8 2006 } Original Source Link: (May no longer be active)    http://www.washingtonpost.com/wp-dyn/content/article/2006/06/07/AR2006060702214.html http://www.washingtonpost.com/wp-dyn/content/article/2006/06/07/AR2006060702214.html Stocks Continue Week's Slide Associated Press Thursday, June 8, 2006; D03 NEW YORK, June 7 -- Stocks dropped Wednesday, extending investors' losses for the third straight session and pushing the Dow Jones industrial average below 11,000 for the first time since March 9. The Dow has lost more than 316 points this week; the sell-off has also wiped out the Nasdaq composite index's gains for the year and put the Standard & Poor's 500-stock index less than 8 points from its Dec. 31 close. On Wednesday, the Dow fell 71.24, or 0.6 percent, to 10,930.90. The S&P 500 fell 7.70, or 0.6 percent, to 1256.15. The Nasdaq composite index fell 10.98, or 0.5 percent, to 2151.80. With little economic data or corporate news to move stocks, traders were left to decide whether the week's tumble was a buying opportunity or a harbinger of worse days ahead. Stocks spent most the day higher, but the advance-decline line was narrow and the market turned negative in late afternoon. Oil prices fell substantially, giving the market its early-session boost. Equity investors, consumed with worry over the Federal Reserve's interest rate policy, have sent stocks on a roller-coaster ride over the past four weeks, driving them down from near-record highs, then building them up again. Movers Pfizer rose 7 cents, to $23.91, after the New York Times reported that it received bids worth more than $14 billion for its consumer products business. Bidders included GlaxoSmithKline, Johnson & Johnson and Reckitt Benckiser. GlaxoSmithKline rose 51 cents, to $56 Johnson & Johnson rose 23 cents, to $61.17. Dow Chemical fell 50 cents, to $39.08. It was one of six names in the sector downgraded by Deutsche Bank. E.I. DuPont de Nemours fell $1.08, to $41.09. It was also downgraded. Boston Scientific fell 31 cents, to $20.22, after reports that Guidant, the troubled defibrillator company it acquired in April, drafted a warning letter about a dangerous electrical malfunction in some of its devices, but did not send it. Indexes New York Stock Exchange composite index fell 63.65, to 8037.06. American Stock Exchange index fell 13.33, to 1910.34. Russell 2000 index of smaller-company stocks fell 4.18, to 706.78. Volume NYSE: 2.68 billion shares, down from 2.75 billion on Tuesday. Decliners outnumbered advancers 3 to 2. Nasdaq: 1.95 billion shares, down from 2.14 billion. Decliners outnumbered advancers 11 to 9. Commodities Crude oil for July delivery: $70.82, down $1.68. Gold for current delivery: $627.40 a troy ounce, down from $629.40 on Tuesday. © 2006 The Washington Post Company

American wages falling behind inflation { August 28 2006 } Danger time for america says economist Danger time in america [jpg] Dollar continues to sink as dow tumbles { April 2006 } Dollar makes big gains early june Dollar may rally on higher interest rates { February 2006 } Dow index breaks 11 000 barrier { January 10 2006 } Economy slows sharply inflation heats up First halt in fed rate increase after 2 years { July 2006 } Ford closing plants in minnesota and virginia { April 13 2006 } Ford to cut thousands jobs 14 factories { January 23 2006 } Global stocks retreat on US interest rate fears Gold and stocks decline { April 2006 } Gold continues to drop early june as dollar gains Good job news knocks down stocks { January 2006 } Greenspan raises rates last time ever { December 2006 } Housing slowdown ripples through economy Lasvegas real estate market drying up Market uproar follows fed rate misunderstanding { May 2 2006 } Minimum wage not raised in 9 years blocked { June 22 2006 } Stocks and gold up { May 9 2006 } Stocks continue to slide early june { June 8 2006 } Stocks dive on faltering economy { January 21 2006 } Stocks fall and gold plummets mid june Stocks mixed after inflation worries persist { April 2006 } Stocks oil gold all rise { May 2 2006 } Stocks rally to 4 year high after 2006 new years Stocks sag as prices jump for gold oil { April 18 2006 } Stocks sink as oil and gold fan inflation fears { April 2006 } Stocks suffer biggest fall in 3 years { December 2006 } Trade deficits widened to record 2005 Unemployment rate proves inaccurate { December 2006 } Files Listed: 32

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