Mixed Day on Wall Street Closes Dismal Quarter

[Zorra]

9:54pm (UK)

Wall Street closed out a dismal third quarter with a mixed performance Thursday after Merck & Co. said it would be forced to remove its best-selling Vioxx arthritis drug from the market.
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Bad economic news also weighed on stocks as the Labor Department reported the highest increase in weekly first-time jobless claims in seven months, and the Commerce Department reported consumer spending was flat for the month of August.
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The Dow fell 55.97, or 0.6%, to 10,080.27. Merck represents 3.27% of the Dow, and Dow Jones & Co., which manages the index, said Merck’s tumbling share price equated to at least an 88 point drop.
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The major indexes ended the quarter substantially lower, with the Dow losing 3.4 percent, the Nasdaq tumbling 7.4 percent and the S&P 500 dropping 2.3 percent. The Dow’s losses from July to September was the biggest quarterly decline since the first quarter of 2003, while the Nasdaq’s losses for the quarter were the worst since the third quarter of 2002.

http://news.scotsman.com/latest.cfm?id=3568385

Fascist/Pox TV News: Clearly, judging from this positive economic news, we have turned the corner, and the recovery is in full swing. And now, for some commentary from our un-biased reporters on tonight's presidential debate:

[jdj]

1. that comic is the REAL truth.

Rove is definitely earning his pay, spinning to cover up every freaking thing W. does wrong. They may have to make some Isaac-like sacrifices of their own, to keep the news off reality.

[The_Casual_Observer]

2. Clearly this is not the economy * wanted today, absolute proof

that * has absolutely no control over this and nothing that his "administration" has done works or will ever work. Simply put, * is an ass and anyone who supports * is an ass.

[alcuno]

3. People will receive their 3rd quarter statements with a DOW that is

about 400 points lower than the first quarter of *'s term. Even his dad saw a 1000 point increase on the DOW in his 4 years. Truly pathetic.