Tough Tuesday

Plummet stocks

Rough start for stocks on Tuesday to say the least. The Dow Jones takes a big drop of over 400 points to begin the day. It’s sad but the now -138 point that the Dow has at the movement is an improvement. Beginning the year around the low 13,000s, the Dow Jones is now at a dismal 11,000. Recession fears are climbing to say the least. The big news of the day seems to be the Fed’s 3/4 or .75 interest rate cut. This drops interests rates from 4.25 to 3.5%, affecting how much consumers pay on credit card debts. But most feel that this cut is extremely too late. With the biggest interest rate cut in 24 years, only time will tell how the economy will react.

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~ by isaacswallstreet on January 22, 2008.

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