Keep your eye on the stock market today… in case you missed this morning’s news, the Fed cut its prime rate 3/4 of a point in fear of a recession. That’s a HUGE move – normally they move it up or down 1/4 of a point at a time. Stock markets around the world went down the crapper overnight. The U.S. markets have only been open a few minutes as I type this, and already the Nasdaq has lost 117 points, or 5% of its value. (Edit a few minutes later: It’s rebounded to only -2% now, so maybe there was an overreaction at the start of trading.) You can track the market averages on The Motley Fool’s homepage.
Wild ride on the stock market today
January 22nd, 2008 · No Comments
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