It was a rough day for investors on Wall Street today. The economic news that
posted today was much weaker than expected and as a result, stock indices
plummeted. Investors were selling off and moving towards less riskier assets
like safe haven gold today. The jobs data that posted earlier today initiated
this action. The number of jobs that were created in July was far below that
which was expected by most economists. The unemployment rate also stayed above
average at 9.1 percent. After the initial sell off during the opening half of
the trading session, the primary indices continued to trend lower as there was
no catalyst for a positive slope. As close was finalizing, stock index tracking
revealed that the Dow Jones Industrial Average was lower by over 250 points at
11,235.42. The Nasdaq was lower by over 72 points at 2,474 and the S&P 500 was
lower by over 31 points at 1,173. Septembers opening few days did little to
boost confidence. Negative pressure in the marketplace intensified with the
credit downgrade last month and it continued through into September. It
continues to hurt the primary indices overall and individual company stock
values. General Electric felt the negative pressure today and as a result, stock
value closed out red. As close finalized, GE was lower by 3.64 percent at 15.62.
Previous close for GE was 16.20 according to MSN Money Stock Quote. Frank Matto
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