Duck and cover. Wall Street ended in negative territory Friday, with the markets falling across the board for the fourth consecutive day. Although by the close, the drops were modest.
Investors held out hope at the beginning of the day, as stocks climbed higher in early morning trading. By mid-morning, the Dow, Nasdaq, and S&P 500 were all headed south. By the close however, the major indexes had fallen less than 1 percent. The Dow ended the day at 12,099.30, a drop of 59.91 points, while the Nasdaq closed at 2,340.02, down 6.88 points, and the S&P 500 receded to 1,325.19, or a loss of 8.06 points.
Wall Street apparently did not find comfort in an address by President Bush on his new stimulus package, according to a report on MarketWatch.
Some financial reports note that despite the roughly $145 billion in tax cuts, some investors had expected more, the Associated Press reported,
Chip giant Intel, which
But one tech titan, IBM, managed to end the day up, as it got a boost from its bullish 2008 forecast. IBM closed at $103.40 a share, up $2.30, or about 2 percent, on Friday.