Dow Drops 514 to Close at 8,519

October 22, 2008 1:39:56 PM PDT
Investors suffered through another stomach-churning late-day decline, following drops seen on global markets. The Dow ended with a loss of 514 points or 5.7 percent to 8,519. The S&P fell 58 points to 897.

And the Nasdaq composite lost about 81 points to 1,615. Declining issues outnumbered advancers by a 5 to 1 margin Volume on the NYSE came to 5.9 billion shares. Nasdaq stock market volume was 2.5 billion shares.

As the dollar strengthened, light, sweet crude for December delivery fell $5.43 to settle at $66.75 on the New York Mercantile Exchange.



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