Econalypse Now
by John Paczkowski
Posted on October 6, 2008 at 9:03 AM PT
The government’s $700 bailout of Wall Street, signed into law Friday after weeks of contentious debate, clearly isn’t the panacea for which tech investors, and investors in general, had hoped. Technology stocks stumbled at the opening bell Monday and then fell flat on their faces as investors succumbed once again to the market malaise. The Nasdaq fell 5.4 percent to trade at 1843.04, dragged down by the declining valuations of Microsoft (MSFT), Apple (AAPL), Yahoo (YHOO), eBay (EBAY) and others. And Google (GOOG), at $366.73, is fast approaching a new 52-week low. Looks like we’re in for another bloodbath.
PREVIOUSLY:
- Analyst: The Great Dark Times Cometh!
- Wall Street: Give Me Something to Stop the Bleeding
- GOOG at $398? Clearly, You’re Dyslexic
- WaMu: Epic Bail
- Ballmer: Better Safe Than Lehman Bros.
- Lehman Brothers: $2.5 Billion for a Bankruptcy Well Done
- Here’s $39 Billion in Recognition for Your Hard Work on the Forthcoming Financial Crisis
- Weekend at Bernanke’s II
- Weekend at Bernankes
