Dow finishes below 7,000 for first time since '97: Financial News - Yahoo! Finance:
The Dow's descent has been breathtaking. It took only 14 trading sessions for the average to fall from above 8,000 to below 7,000. For the year, the Dow has lost 23 percent of its value.
Its last close below 7,000 was May 1, 1997 -- a time when the market was barreling to one record high after another because of the boom in technology stocks, but often suffered big drops as investors worried about inflation and rising interest rates.
This time around, Wall Street analysts seem to believe that a stock market recovery will first require signs of health among financial companies, and on Monday those signs seemed further away than ever.
1:28 AM
Dilettante Archives