Dow Ends Day Down 634; Worst Day for Stock Market Since 2008

The Dow Jones Industrial Average fell more than 600 points Monday after a one-two punch: the first-ever Standard & Poor's downgrade of U.S. debt, then the downgrading of government-backed mortgage debt. The Dow's one-day drop was its biggest point loss in a single day since Dec. 1, 2008 and its sixth biggest point drop in its history. The Dow closed down 634 points, the S&P 500 lost 79 points, and the Nasdaq ended 174 points lower, dropping almost 7 percent. Even after the U.S. markets closed,...Full Story
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