Wednesday, May 13, 2009
The Dow, Nasdaq and S&P experienced deep declines Wednesday amidst investors concerns that the nation’s economic health might not yet have stabilized.
By around 2:30 p.m. the DJIA had slipped by 191 points, the Nasdaq by 49 points and the S&P 500 by 24 points. Bellweather General Electric was off by 5.9% at 12.87.
The Commerce Department informed that April retail sales fell 0.4%, higher than expected and the eighth decline in ten months. Department stores, electronics, food and beverages all saw declines, while restaurant, sporting goods and building materials experienced gains.
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