Archive for Saturday, December 15, 2007

Stocks finish lower after economic news

December 15, 2007

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Stocks finished a bruising week on the downside Friday after a jump in consumer inflation raised concerns about how much freedom the Federal Reserve has to continue cutting interest rates. The Dow Jones industrial average fell 178.11, or 1.32 percent, to 13,339.85. The Standard & Poor's 500 index dropped 20.46, or 1.37 percent, to 1,467.95, and the Nasdaq composite index fell 32.75, or 1.23 percent, to 2,635.74.

It resulted in Wall Street's worst weekly showing in a month. For the week, the Dow tumbled 2.10 percent, while the S&P; 500 declined 2.44 percent and the Nasdaq shed 2.60 percent.

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