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Dayton Business Journal…
Stocks stumble on new
stimulus talks
by Ginger Christ, DBJ Staff Reporter
Wednesday, September 21, 2011
Editor’s Note: Stocks continue to fall through Friday morning. From
Wall Street Journal: “Despite a small late-day rebound, the Dow Jones
Industrial Average fell 391.01 points Thursday, or 3.5%, to 10733.83.
The Dow is down 16% from its April high, nearing the 20% drop that
would signal a bear market. The broad Standard & Poor’s 500-stock
index fell 3.2% to 1129.56, down 17% from its April high. On Thursday,
1,949 stocks traded in the U.S. hit 52-week lows.”
Stocks slipped after the Federal Reserve announced its plans to buy
long-term bonds to help buoy the economy.
The Dow Jones Industrial Average fell 284 points to 11,124.84 by
closing. Likewise, the S&P 500 dropped 35 points to 1,166.76 and
the Nasdaq composite fell 52 points to 2,538.19.
Banks, including those with local operations, saw some of the biggest
drops Wednesday: First Financial Bancorp. fell 7.47 percent; Huntington
Bancshares Inc. fell 7.36 percent; KeyCorp fell 6.47
percent; JPMorgan Chase & Co. fell 5.92 percent; and Fifth Third
Bancorp fell 5.88 percent.
Most Dayton-area stocks also saw values drop Wednesday during the
sell-off: Navistar International Corp. fell 5.8 percent; Robbins &
Myers, Inc. fell 5.75 percent; and Avery Dennison Corp fell 5.02
percent.
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