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Dow Slides 5.5 Percent, Ending Below 11,000

Published on August 8, 2011
by Brendan Conway

U.S. stocks tumbled in a Monday rout that sent the Dow Jones Industrial Average down 5.5 percent, plunging below 11,000 for the first time since November, as investors fled from risky assets in the first trading session since Standard & Poor’s downgraded the federal government’s credit rating late Friday.

The Dow Jones Industrial Average sank 632 points at 10,813, ending at the day’s low, in preliminary closing figures at 4 p.m. Eastern time.

The Standard & Poor’s 500 stock index tumbled 78 points, or 6.5 percent, to 1123, with financial and energy stocks falling hardest. The Nasdaq Composite slumped 168 points, or 6.6 percent, to 2,364.

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