Yahoo shares hit $8 range

Shares of the Internet search pioneer dip into the $8 a share range, as the broader markets are beaten.

Dawn Kawamoto Former Staff writer, CNET News
Dawn Kawamoto covered enterprise security and financial news relating to technology for CNET News.
Dawn Kawamoto
Yahoo fell into a new dollar range on Thursday, pushed into the high $8 a share bracket as the broader markets took a beating.

Yahoo closed at $8.95 a share, down 2 percent, as the Dow Jones Industrial Average cratered 444.99 points to close at 7,552.29.

For Yahoo, its shares have not traded at this point since February 2003, while the S&P 500, which fell 6.71 percent to 752.44, has not seen these levels since 2002.

The markets reacted late in the session as signs pointed to a delay in moving a massive bailout for the automotive industry forward.

Last week, Yahoo's shares moved in the $9 a share range and the day before that the $10 a share range.