To its lowest level for 6 years, Wall Street lowers again

The New York Stock Exchange finished lower Friday, after having already fallen the previous day to its lowest level for six years, after a turbulent meeting of the rumours about the future of banks: the Dow Jones lost 1.34% and the Nasdaq 0.11%.

•     The Dow Jones Industrial Average has conceded 100.28 points to 7365.67 points and the Nasdaq, mainly technological, 1.59 points to 1441.23 points, according to final closure.
  
      The broader index Standard & Poor's 500 fell for its 1.14% (8.89 points), to 770.05 points.
  
      Thursday fell to a closing level ever seen since 9 October 2002; the flagship index of Wall Street was sharply lower much of the day, moving temporarily to the lowest since meeting in 1997.
  
      "This is only fear," sighed Peter Cardillo, Avalon Partners. "Once again, banks are weighed down by rumours of nationalization," he explained.
  
      Faced with the fall of the two banking giants Citigroup (-22.31% to 1.95 dollar) and Bank of America (-3.56% to 3.79 dollars) already bailed out of public funds, many analysts now believe inevitably result in a temporary nationalization of these institutions.
  
      "The market is troubled these days, because investors are not convinced that the policy of the administration will work," noted Hugh Johnson of Johnson Illington Advisors. "This time, they were concerned more specifically the prospects for nationalization, which is never good news for the market economy," he added.
  
      The indices have however, finally made a spectacular recovery session, the Dow Jones moving briefly to the balance and the Nasdaq in the green.
  
      The origin of this rise, the spokesman for the White House Robert Gibbs assured that the administration supported a private banking system, and it seems that the Treasury will detail next week its plan for banks ", said Johnson.
  
      The bond market is mounted. The good performance of 10-year Treasury fell to 2772% 2857% against Thursday night, and one at 30 years to 3565% 3688% against the previous day.
  
      
  Ennaharonline/ M. O.