And stocks are getting hammered
Poster: Aron Schatz
Posted on July 22, 2002 at 12:54:03 AM
Relating to WorldCom, the stock market is in a terrible position. Traders are losing faith in the market and are 'sour' towards the US economy. Big business has really put us in the shitter hasn't it?
Quote
On Friday, the Dow Jones industrial average logged its seventh-largest points decline, falling nearly 400 points.
The rush of corporate earnings reports continues in one of the busiest weeks of the reporting period. So far, the mountain of numbers and forecasts digested by investors every 90 days has stoked the July meltdown. It is not so much the results that have weighed, but the dim outlook for the future.