Dow falls 377 on Black Monday's 20th anniversary
CBS News
Transcript
Call it an eerie coincidence the dow marked the 20th anniversary of Black Monday with a steep soff Back on october 19th 1987 the dow tanked over 500 points or 23 it's Worst Day in stock Market History Fast forward to today and Another dramatic soff but not nearly As disastrous the dow tanked 377 points a Loss of Just about 3 The nasdaq plunged 74 points to put this in Drop like Black Monday the dow would have to Lose about 3,000 points in Just one day Today sell off is pegged to risks about Record High Oil prices weak earnings and a deepening housing slump and Fear is growing that the economy will slip into a recession and After Today's sell off traders Say There is Now a nearly 100% Chance the FED will cut interest rates again at İTS october 31st meeting Oil prices traded As High As $90 a Barrel today crude Has risen some 14 Over The Last eight Trading sessions and it's starting to trickle Down to the pump tripa Says the National average for a gallon of gas has jumped a nickel in the past Four Days to 281 a gallon That's your money Watch log On To cbsnews for the latest Business headlines in New York i'm Alexis Christ y