RealNews

Terror Fears Push Markets To New Lows For the Year

U.S. stock markets fell to new lows for the year yesterday amid growing fears of terror attacks following last week’s train bombings in Madrid and uncertainty over the election of an antiwar prime minister in Spain, Wall Street analysts said. The attacks came as some investors were already pulling out of the market because of concerns about job creation, the pace of the economic recovery and the possibility that many stocks are overvalued. Yesterday’s decline was the fifth in six days. Also giving the market jitters was the scheduled meeting today by Federal Reserve Chairman Alan Greenspan and other top Fed officials to discuss whether the nation’s central bank will change its interest-rate policy, according to analysts. The Dow Jones industrial average fell 137.19 points, or 1.3 percent, to close at 10,102.89, its lowest close in three months. It is down 3.4 percent for the year. Full Story

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