NEW YORK (Reuters) – Stocks plunged to the lowest in five and a half years on Wednesday as investors girded for a lengthy economic downturn and U.S. auto executives predicted a far-reaching calamity without a government lifeline.
The Dow Jones industrial average (.DJI) plunged 426.99 points, or 5.07 percent, to close unofficially at 7,997.76. The Standard & Poor's 500 Index (.SPX) fell 52.18 points, or 6.07 percent, to 806.94. The Nasdaq Composite Index (.IXIC) tanked 96.85 points, or 6.53 percent, at 1,386.42.
My personal observation is that the Car Makers are not going to get bailed out.Goose
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