Dow swings wildly, ends down 34; income and spending rise
CBS News
Transcript
[Music] the roller coaster ride continued on Wall Street stocks plummeted right out of the gate as nervous investors took their queue from Global markets the Dow tanked 200 points in the first minutes of trading but some strong consumer and Manufacturing news helped the Blue Chips rebound from their lows of the day after a zigzag session the DOW Industrials finished down 30 4 Points the NASDAQ Composite gave back about 12 analysts say after several years of remarkably low volatility the markets may be in for more bumps ahead some good news on income and spending helped investors ease their minds the government saying personal incomes Rose in January 1.1% the fastest rate in a year and spending which accounts for more than 2third of the nation's economy Rose more than expected up half a percent and February was a good month for the manufacturing sector new orders and production contributing to better than expected growth there but February was a mixed bag for us automakers GM posting an unexpected rise in sales last month up nearly 4% but sales at Chrysler fell 8% and Ford which may lose its long-held spot as the US's number two car maker to Toyota Saw s sync 133% that's your money watch click on cbsnews.com for more more at the New York Stock Exchange I'm Alexis christopherus