Breaking News Alert The New York Times Wednesday, October 15, 2008 -- 4:13 PM ET ----- Stocks Slump on Gloomy Economic Omens; Dow Sheds 733 Points Stocks fell sharply on Wednesday in the face of new indications that the economic downturn could be a prolonged one. The Dow Jones industrial average fell 733.08 points, or almost 8 percent, to 8,577.91, and the broader Standard & Poor's 500-stock index was down 9 percent, wiping out most of the gains from Monday's big rally. The sell-off reflected the likelihood that serious dislocations will plague the economy even if the coordinated bailouts announced this week succeed in restoring confidence to credit markets. Retail sales decreased 1.2 percent last month, nearly double the 0.7 percent drop that had been expected, and the chairman of the Federal Reserve, Ben S. Bernanke, warned that the economy faced a difficult period. Read More: http://www.nytimes.com/?emc=na ----- Now get the New York Times Breaking News to your mobile phone. Sign up for the alerts by texting NEWSALERTS to 698698 (NYTNYT). ----- About This E-Mail You received this message because you are signed up to receive Breaking News Alerts from NYTimes.com. To unsubscribe, change your e-mail address or to sign up for daily headlines or other newsletters, go to: http://www.nytimes.com/email NYTimes.com 620 Eighth Ave. New York, NY 10018 Copyright 2008 The New York Times Company
-- Posted By Breaking News to Break News at 10/15/2008 11:13:00 PM
