Aug 2, 2011

U.S. stocks in worst streak since credit crisis Market Snapshot
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Written by : Tom George| 0 | Business

Via Scoop.itinternetbillboards

Wall Street extends a losing run as investors fret about economic growth and are left shaken after the passage of the debt-ceiling deal. U.S. stocks fell hard Tuesday, posting their longest losing streak since the heart of the 2008 credit crisis, on investor worries about upcoming federal deficit cuts and a likely stall in the recovery.

The Dow Jones Industrial Average /quotes/zigman/627449/delayed DJIA -2.19% fell 265.87 points, or 2.2%, to 11,866.62, its worst one-day loss since June 1. The eight-day losing stretch was the longest since October 2008, weeks after the collapse of Lehman Bros. and by some measures, the peak of the U.S. credit crisis.

Click to Play El-Erian: Debt deal bad for economy Washington’s debt-ceiling deal could make the U.S. economy worse, says Pimco’s Mohamed El-Erian. Plus, there is a “high chance” the U.S. will be downgraded despite averting default. The S&P 500 posted a new closing low for 2011 and turned negative for the year.

The just-ended battle over hiking the U.S. debt ceiling means the government avoided default, but also rattled investors just coming to grips with a shaky U.S. economy.
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Tom George

Founder and CEO of Internet Billboards. A futurist and serial entrepreneur, as well as a professional fitness trainer, martial artist, and business strategist. Helped to develop inbound advertising. An avid content curator who enjoys finding those digital gems out there in cyberspace and sharing them with others.
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Tom George

Founder and CEO of Internet Billboards. A futurist and serial entrepreneur, as well as a professional fitness trainer, martial artist, and business strategist. Helped to develop inbound advertising. An avid content curator who enjoys finding those digital gems out there in cyberspace and sharing them with others.

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