reportonbusiness.com: Market Action

Posted AT 4:56 PM EDT on 05/02/08

Stock markets hammered

Reuters

NEW YORK — U.S. stocks suffered their biggest drop in nearly a year on Tuesday after data showed the worst monthly contraction in the services sector since the last U.S. recession and Standard & Poor's warned it could cut bank credit ratings. The Dow and S&P 500 had their biggest drops since Feb. 27, 2007. All 30 Dow stocks fell and only 17 of the 500 components on the S&P closed higher.

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TSX
DJIA
S&P
Nasdaq

Market	Change	Value
Data delayed 15 minutes
S&P/TSX	+189.08	13,539.22
DJIA	+12.78	11,430.21
S&P 500	+3.18	1,277.72
Nasdaq	-8.70	2,380.38

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Credit crisis hangs over markets

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