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Friday, September 29, 2006
Dow Jones High -- What Does It Mean? The Washington Post notes that "the last time the Dow stood at these levels, Wall Street was propelled by the dot-com and housing booms. Traders raced to buy any stocks that looked remotely promising, pushing the major indexes higher. But after early 2000, the market began to crumble. Signs of recession accelerated the decline, and then the Sept. 11, 2001, terrorist attacks and their aftermath, including earnings declines and losses in many industries, sent stocks plunging. Corporate scandals, including the collapse of Enron and WorldCom, also shook Wall Street. The Dow hit a five-year closing low Oct. 9, 2002, nearly 38 percent off its record high close." Blogger News Network is advertiser-supported, and your visits to our advertisers help BNN to meet its expenses. Help keep us afloat! posted by Sharon Secor at 10:50 AM |
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