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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.
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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.