Lehman Brothers closed down 45% on worries about its upcoming earnings report and the need to raise capital. Oil prices and a host of other commodities continued on their downward spiral.
The Dow Jones Industrial Average fell 280 points (2.4%) to close at 11,231, the S&P 500 Index slid 43 points (3.4%) to 1,225, and the Nasdaq Composite lost 60 points (2.6%) to 2,210. Crude oil fell $3.08 to $103.26 per barrel, and gold lost $19.50 to $783.30 per ounce.
Magnificent Seven Update
