Dow Plunges 387 on Deepening Fears About a Spreading Credit Crunch, Read Below and explain the meaning?
Wall Street’s deepening fears about a spreading credit crunch sent stocks plunging again Thursday, with the Dow Jones industrials extending their series of triple-digit swings and falling more than 380 points. The catalyst for the market’s latest skid: a French bank’s announcement that it was freezing three funds that invested in U.S. subprime mortgages.