Dow Jones closes below 6600 points

The U.S. stock markets have once again suffered severe haircuts – the main index fell to the state from September 1997. Strongly under the wheels came Citigroup: The stock landed where only failed start-ups to note.
Severe price losses on Wall Street: The Dow Jones has occasionally more than 300 points lost and ended with 6594 meters below the mark of 6600 points. This is the lowest level since September 1997. At the close of trading, the negative increase of 4.1%. The broad market S & P 500 stood at 683 points, and thus 4.3% below its previous day’s closing. On the Nasdaq lost Composite Index of 4% on 1300 points.

Bad news from the automotive industry were responsible for sales: The once world’s largest manufacturer General Motors has its own survival in question. If the mother Opel bitter losses not get to grips, the Group may need creditor protection under U.S. law register with the company informed. GM shares closed nearly 15.5% weaker. Among them also suffered from the competition: Ford’s title pounced with minus 12% from double digits also, but recovered to close of trading at a discount of 3.2%

Turbulent went there in the papers of the conglomerate General Electric to. They initially opened with a discount of just under 2%, before in a volatile trading turned into the Plus and finally closed 0.5% weaker. GE came rumors of problems with the financial division of the group opposed. GE Capital will be in the quarter to be profitable, said Group Chief Financial Officer Keith Sherin to the TV channel “CNBC:” At GE Capital, there is no time bomb. ”

The name of GM and GE were for business, which the U.S. had set up, said Andre Bakhos of Princeton Financial Group. Given the current problems of the industry icons that investors could not win back the confidence to stand for a trend reversal was necessary. See it as if the battle was lost: The market will be driven by pure emotion.

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