Friday, October 17, 2008

Dow off 127 as late selling clips rally

The roller coaster continued right up until the end of the week. After closing over 400 points up the dow closed down today. At the closing bell, the Dow Jones Industrial Average was down 127 points, or 1.4%, to 8,852; blue chips had been up as much as 302 points this afternoon. The Nasdaq Composite finished down 6 points to 1,711, and the broader Standard & Poor's 500 Index was off 6 points to 941.

The fade was a continuation of the big volatility trend that's dominated trading in recent weeks. Today's swing for the 30 Dow stocks from bottom to top was 563 points. It had to be a disappointment for investors, as the big afternoon rally for stocks ran out of gas.

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