AIG reported a staggering $61.7 billion in quarterly losses touched off fresh fears about the health of the nation's financial system.
The worries pushed the blue chips below 7,000 for the first time since Oct. 28, 1997. The credit crisis and recession have now slashed half the average's value since it hit a record high over 14,000 in October 2007.
The DOW is already 228 point down for the day with little sign of a change in direction. Over the weekend, the Dollar strengthened as the EU reported more economic troubles ahead. The hunt for wealth preservation is now the top priority for most investors that I just trying to ride this downturn out and praying for a bottom very soon.
This week I participated in a blog carnivals
They did an excellent job and as usual, there are tons of great articles. If you have the time, I highly suggest you skim through this week’s carnivals.
Carnival of Personal Finance #193: YouTube Edition