"WASHINGTON (Reuters) - The U.S. economy suffered its deepest contraction since early 1982 in the fourth quarter, shrinking at a much worse-than-expected 6.2 percent annual rate as exports plunged and consumers slashed spending.
"The dour data and a move by the government that could boost its equity stake in Citigroup to as much as 36 percent hammered U.S. stocks to 12-year lows. The Dow Jones industrial average ended down 119.15 points at 7,052.93. Government bond prices fell, bruised by record issuance this week."
Friday, February 27, 2009
U.S. economy plummets
U.S. economy plummets | Reuters:
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment