Dow Falls to Five Year Low; Arkansas Stocks Tumble

Via Gawker
Via Gawker

UPDATE: Dow briefly dips below 8,000 on open today.

Original post:

Another day, another three-digit decline on the Dow, which has now reached its lowest point in five years.

Here’s some market trivia:

  • Thursday’s close on the Dow was 5,085 points — 39 percent — off its all-time high of 14,164, a level reached exactly one year ago yesterday.
  • Two billion shares traded hands Thursday.
  • Declines led gainers 10 to 1.
  • Each of the Dow’s 30 compenents ended in the red Thursday, the market’s seventh straight day of losses.
  • Only two Arkansas-based publicly-traded firms — AERT Inc. of Springdale and USA Truck Inc. of Van Buren — ended the day with gains. Both stocks trade on the Nasdaq.

Speaking of Arkansas stocks, Acxiom Corp. of Little Rock, which counts many large financial firms among its clients, led Arkansas firms with the biggest stock loss on Thursday, ending down 14 percent to $8.36 per share, a new 52-week low.

Dillard’s Inc. of Little Rock, the upscale department store chain, also took it on the chin, down 12 percent to $8.50. Dillard’s, of course, continuing to suffer as consumers scales back on spending.

Click here to see how other Arkansas stocks did.

Also yesterday, shares of iconic American business brand General Motors fell to levels it hasn’t seen since 1950. And overnight, global markets plummeted.

Sadly, this ain’t over.

More

The end of American capitalism? [Washington Post]

Plan B: Flood banks with cash [New York Times]

Economists expect crisis to deepen [WSJ]

Don’t watch the Dow, watch this number instead [The Big Money]

Business press round-up [The Big Money]

Nick Denton : Take a ‘deep breath’ (chart) [Gawker]

(Sad traders photo via Gawker.)