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CNN: Dow falls below 7,000

The Dow Jones industrial average (INDU) was down 96 points, or 1.4%, to 6,966 points, 20 minutes after the opening bell. The S&P 500 (SPX) index slid 11 points, or 1.5% to 724 points. The Nasdaq composite (COMP) was down 0.7%.

Both the Dow and S&P are hovering at their lowest levels in about 12 years, as the market remains anxious about the state of the global economy and the world financial system.

"There's a buyer's strike right now in the stock market," said Art Hogan, chief market strategist at Jefferies & Co.

He blamed the decline in futures on "ongoing concerns about the global recession," noting that the European indexes were down 3% to 4%.

You can't be me, I'm taken
by Sven Triloqvist on Mon Mar 2nd, 2009 at 10:20:41 AM EST

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