Stocks Sink on Swine Flu Panic

By Kevin Spak,  Newser Staff
Posted Apr 27, 2009 8:44 AM CDT
Stocks Sink on Swine Flu Panic
In this Feb. 23, 2009 file photo, specialist Peter Mazza works at his post on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, file)

Swine flu panic swept across markets today, sending stocks lower around the world. In the US, the Dow sank 80 points at the open, while the S&P and Nasdaq fell 1.1% and 1.2% respectively. In Asia, the Hang Seng tumbled 2.7%, while many major European indexes were down more than 1%. Commodities sank, with oil down almost $3 a barrel, as did transportation and travel stocks, with American Airlines down 7.6%

"As if we didn’t have enough to contend with," wrote one Sydney-based analyst, while a Londoner wrote, "It’s just what we need now, a flu pandemic in the midst of the biggest financial crisis since the Great Depression." (More stock market stories.)

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