Market Commentary 11/17/2008
The Markets
Wall Street continued its dramatic swings last week. The Dow charted its third-largest single session point gain Thursday with a 550-point rally. Hedge fund selling accounted for some of the downturn, as funds liquidated assets to meet the 45-day notice for investor withdrawal requests by year-end. The Dow closed the week down 4.87 percent to 8.497.31. The S&P lost 6.11 percent to close the week at 873.29, and the NASDAQ fell 7.92 percent to finish the week at 1,516.85.
Source: Morningstar.com. * Past performance is no guarantee of future results. Indexes are unmanaged and cannot be invested into directly. Three and five-year returns are annualized. The S&P, excluding “1 Week” returns, is a reflection of return to an investor, by reinvesting dividends after the deduction of withholding tax.
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