Guillermo
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U.S. Stock Decline After Credit Crunch Deepens - 2008/10/06 20:26
Good day, traders! Monday is here, full of surprises for this week. The key is take advantage of the ongoing crisis.
U.S. stock-index futures dropped after bank bailouts in Europe widened and lower crude prices weighed on oil companies, deepening concern that credit-market losses will worsen a global economic slowdown.
Standard & Poor's 500 Index futures expiring in December lost 27.60 points, or 2.5 percent, to 1,080.70 at 9:09 a.m. in New York. Dow Jones Industrial Average futures retreated 206 to 10,158. Nasdaq-100 Index futures decreased 27.50 to 1,450.
The S&P 500, the benchmark index for U.S. stocks, tumbled 9.4 percent last week, the steepest slump since the September 2001 terrorist attacks, as concern the U.S. is headed for a recession overshadowed passage of a $700 billion bank bailout.
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