ABC's Betsy Stark (embargoed link) offered the play-by-play on stock market action that saw the Dow Jones Industrial Average swing from a 325 point loss to a 298 point gain in a matter of hours, closing at 12270: "Even the pros were amazed at the extraordinary about-face…whiplash, rollercoaster…choose your metaphor…at midday for no obvious reason the buyers started to appear." On CBS, Anthony Mason countered with a gloomy forecast from Merrill Lynch of "the worst consumer recession since 1980" and a continued real estate slump that will drive home prices down 25% over the next two years. CNBC's Carl Quintanilla chimed in on NBC with slowing sales by Apple and Motorola and a pricecutting experiment at Starbucks to offer coffee for $1 by making the cup smaller.
You must be logged in to this website to leave a comment. Please click here to log in so you can participate in the discussion.