Wednesday, May 7, 2008

Financials Fall While Crude Oil Spikes

The Dow Jones Industrial Average fell 206 points (1.6%) to close at 12,814, the S&P 500 Index lost 26 points (1.8%) to 1,393, and the Nasdaq Composite declined 45 points (1.8%) to 2,438. Crude oil rose $1.69 to another record close of $123.53 per barrel, and gold ended down $7.40 at $870.30 per ounce.

Magnificent Seven Update