NEW YORK (AP) — Wall Street hit levels not seen since 2003 on Wednesday, with the Dow Jones industrial average plunging below the 8,000 mark as the fate of Detroit’s Big Three automakers amid a slumping economy disheartened investors. A cascade of selling occurred in the final minutes of the session as investors yanked money out of the market. For many, the real fear is that the recession might be even more protracted if Capitol Hill is unable to bail out the troubled auto industry.—-Contact The Daily Reveille’s news staff at [email protected]
Dow falls below 8,000; S&P at 5-year low
By The Associated Press
November 19, 2008