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Dow Falls Below 11,000
By
Jen Chung
Published Jul 11, 2008
Modified Jul 11, 2008
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By
Jen Chung
Published Jul 11, 2008
Modified Jul 11, 2008
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The Dow Jones Industrial Average fell below 11,000 for the first time in two years. Worries about Fannie Mae, Freddie Mac, oil, and more caused the Dow to fall over 200 points so far. One portfolio manager told Bloomberg News, "It's the worst of both worlds. Watching two government-sponsored entities evaporate before our eyes from an equity perspective, and the damage that does to investor confidence on the one hand, and watching the price of oil, which is clearly meaningful from a consumer and business perspective, continue to escalate upward creates other pressures.''
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business
dow jones
economy
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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