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dow2664 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. September’s opening few day’s 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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