Dow Jones Falls Below 10,000
www.yahoo.com
By Jeremy Tanner wpix.com
6:42 PM EST, February 8, 2010
Dow Jones Falls Below 10,000
The fall in the average is due to mounting concern about the health of the global financial system, with analysts concerned about mounting debt in European nations.
Greece, Portugal and Spain have been some of the hardest hit with investors worldwide concerned about how banks and insurers will react. Combined with the European financial woes are concerns about the growth in China and US proposals to create new bank regulations.
The fall is rooted in the events of mid-January when China announced that they would be containing economic growth and President Obama announced proposed restrictions on trading by large financial institutions.
The Dow Jones fell 104 points Monday, making it the 10th triple-digit move in 16 trading days.
The Dow then began its decline after a 10-month period of growth which ended Jan. 19 at 10,725.43.
