it initially fell modestly and then tanked by 200 points in less than an hour. At its low of the day, it had lost 356 points and by the closing bell was down 200.9 points. The S&P 500 Index
was down 3, or 27.1%, to 8 1/8 after last night saying it sees 1999 earnings falling behind expectations due to heavy price discounting in the cranberry juice market. The five-analyst view called for annual earnings of 74 cents a share vs. the year-earlier 19 cents. ...
By Pam Martens and Russ Martens: February 22, 2023 ~ The Dow Jones Industrial Average plunged 697 points by the closing bell yesterday, wiping out all of
Today, Wall Street banks also have heavy exposure to the debt of energy-related companies and some of those traded like basket cases yesterday. Two oil companies, ExxonMobil and Chevron, are in the Dow Jones Industrial Average and helped to drag it down yesterday. ExxonMobil (XOM) lost ...