Daily Market Update 10/6/08

Interest rates benefited Monday from another sharp sell off in stocks. The Dow Jones Industrial Average dropped below 10,000 for the first time in over four years. The euro fell sharply against the dollar on growing concerns over the financial stability of European banks. Oil plummeted to $90 pb, down 39% from its peak in July. Credit markets remain tight in spite of last week’s passage of the $700 billion rescue package. No economic data will be released today.

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