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US stock market plunge

27 October 2008 09:05 (UTC +04:00)

Baku. Vahab Rzayev - APA-Economics. Stock markets around the world plummeted Friday and oil prices plunged to their lowest in more than a year.
By the close, the Dow fell 312.30, or 3.59 percent, to 8,378.95 after falling 504 in the early going. Still, the blue chips remained above 8,000; at its recent low of Oct. 10, the Dow traded down to 7,882.51 but it hasnâ€™t finished below that level since 2003.
Broader stock indicators also fell Friday. The S&P 500 index declined 31.34, or 3.45 percent, to 876.77, and the Nasdaq composite index fell 51.88, or 3.23 percent, to 1,552.03.
For the week, the Dow fell 5.35 percent, the S&P 500 lost 6.78 percent and the Nasdaq fell 9.31 percent. The weekâ€™s selling left the Dow down 40.9 percent from its Oct. 9, 2007, record close of 14,164.53, while the S&P 500 is off 44 percent from its peak of a year ago. The Nasdaq is down 45.7 percent.