A Bearish Dow Has its Worst June Since the Great Depression
Money Morning (June 30th, 2008) Writes:
By Jason Simpkins
Associate Editor
High oil prices, a steep drop in consumer confidence, declining home values and a weak dollar conspired to drive the Dow Jones Industrial Average to its lowest point in two years, and made for the benchmark index’s worst June since the Great Depression.
After falling more than 300 points last Thursday and extending losses on Friday, the Dow lost 4.2% in the week ended closing at 11,346.51 - its lowest level since September 2006. All totaled, the Dow plunged 9.5% in June - its worst mid-year performance since the 18% drop in the 1930s.
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