U.S.: Amid negative economic data, stock market having a really crappy day
- 350+point dip in the Dow at one point today (ouch) source
- » It’s becoming more and more apparent that we might be heading for a double-dip recession here. The Dow fell for eight days straight, only ending the losing streak yesterday — but it could fall steeply today. The new jobless numbers are mostly to blame for the weak market. There were 400,000 new unemployment claims in the week that ended July 30. That, in addition to a spreading debt crisis in Europe, has been enough to convince investors that the U.S. economy isn’t in a great spot right now, and it’s hurting our stock market bad.