In Brief
Dow Drops to Lowest Point in a Year
4:20 pm, September 22nd | by Amy Tennery
The Dow industrial average dropped to ugly new lows today, descending to its most dismal point in a year, according to reports this afternoon. So, sure, today’s roughly 400-point drop isn’t as bad as last month’s 600-something drop — but the one-two punch of those two combined is rather brutal.
The Dow was at around 10,660 at last glance, putting it lower than any other close so far this year (Aug. 10 held the previous title, closing at 10,719).
As previously mentioned, this probably has a lot to do with the terrible Fed outlook and general malaise in foreign markets — although I’d doubt rationalizing this (or explaining it away) will really make anyone feel better.
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