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.
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.