Tech & Biz

Dow plunges nearly 430 to fall below 8,000 mark

by mtippett | November 19, 2008 at 01:25 pm

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Another totally brutal day for the markets.

NEW YORK – Wall Street hit levels not seen since 2003, with the Dow Jones industrial average falling below the 8,000 mark, as the fate of Detroit's Big Three automakers and the economy disheartened investors.

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Jordan Yerman

at 13:33 on November 19th, 2008

US Telecoms had a particularly tough day, though market volatility was the defining characteristic for most trading.

Looking at major indexes, the Dow Jones Wilshire Fixed Line Telecommunications Index sank 3.4% to 854 points. Over the past year, the index has ranged from a high of 1,466 points to a low of 732 points. The index has lost 40% of its value in 2008.