Dow Sinks Further on Credit Jitters

GDP report, earnings, can't stave off 208.10 point slide
By Greg Atwan,  Newser Staff
Posted Jul 27, 2007 4:10 PM CDT
Dow Sinks Further on Credit Jitters
A board on the floor of New York Stock Exchange, Thursday, July 26, 2007, shows the closing numbers. Wall Street suffered one of its worst losses of 2007 Thursday, leading a global stock market plunge as investors succumbed to months of worry about the mortgage and corporate lending markets. The Dow...   (Associated Press)

Stocks tumbled more than 200 points for the second day in a row, on fears that small-cap securities might be especially hard hit by a possible collapse in certain financial services. The Dow was down 208.10 to 13265.47, despite a report that the GDP grew faster this quarter than it has in a year—but the Russell 2000, which measures small stocks, dipped 1.7% into negative territory for the year.

The Nasdaq was off 37.10 to 2562.24, and the S&P retreated 23.71 to close at 1458.95, the day after a 311-point plunge on Wall Street set off tremors throughout markets in Europe and Asia. British pharma giant GlaxoSmithKline was down more than 3% after the FDA announced it was looking into a link between popular diabetes drug Avandia and heart attacks. (More stocks stories.)

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