Gothamist
A non-profit newsroom, powered by WNYC.
Gothamist
Listen Live
News
No End in Sight? Dow Closes 449 Points Down
By
Jen Chung
Published Sep 17, 2008
Modified Sep 17, 2008
Share
FacebookTwitterRedditEmail
Never miss a story
Email address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .
By
Jen Chung
Published Sep 17, 2008
Modified Sep 17, 2008
Share
FacebookTwitterRedditEmail
We rely on your support to make local news available to all
Make your contribution now and help Gothamist thrive in 2026. Donate today
Gothamist is funded by sponsors and member donations
After it became clear the government's bailout of AIG wouldn't stop investors from being worried, the Dow closed 449 points down. Some quotes:
- "There's a clear fright to the market right now," said Anthony Conroy, head of trading at BNY ConvergEx Group, a New York stock brokerage. "It's a virus that's running through the market. If investors don't know what a firm's exposure is [to bad credit bets], they're just running away." (WSJ)
- "What does tomorrow bring? Will it start spilling over into consumers? Will there be runs on the banks? There's a million things going on," said Angel Mata, managing director of listed equity trading at Stifel Nicolaus Capital Markets. "Hopefully, we'll see a capitulation soon when everybody throws in the towel." (CNBC)
- “There’s a growing sense that there’s no end to this in sight,” Edward Yardeni, the investment strategist, said. (NY Times)
- "There is paralysis," says [Todd] Clark [trader at Nollenberger Capital Partners]. "Everyone is afraid that the credit crisis won't go away. It's like the financial sector has been in a serious car accident and the government is treating the patient with band aids instead of surgery." (USA Today)
With all the panic, gold prices rose to $850.50, its biggest one day price increase since 1980.
Tagged
business
economy
federal reserve
wall street
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
Read more
Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
MORE news
New Yorkers are paying $300 million for natural gas they don't even use
A new study found that nearly 2% of the city's natural gas is leaking into the air and causing climate pollution.
By
Rosemary Misdary
Published Oct 14, 2026 at 10:00 a.m. ET
Early Addition: Eric Adams did not convince a Wisconsin town to build a data center
Because the vote against it was unanimous, here are your early links: Jacket weather, swishing your Guinness, spooky decorations in North Jersey and more.
By
James Ramsay
News
Early Addition: Eric Adams did not convince a Wisconsin town to build a data center
Because the vote against it was unanimous, here are your early links: Jacket weather, swishing your Guinness, spooky decorations in North Jersey and more.
By
James Ramsay
Hit-and-run driver arrested trying to flee to Uzbekistan after deadly crash, NYPD says
By
Brittany Kriegstein
NY measles outbreak more widespread than official count, health officials say
By
Caroline Lewis
A NYC judge brought his gun into court for an ‘experiment’. Now he’s censured.
By
Samantha Max
Never miss a story
Catch up on the most important headlines with a roundup of essential NYC stories, delivered to your inbox daily.
Sign upEmail address
By submitting your information, you're agreeing to receive communications from New York Public Radio in accordance with our Terms .