Timeline: U.S. Credit Crunch & Financial Failures View Market Summaries & Leading Stock Changes Traders work on the floor of the New York Stock Exchange January 14, 2009 in New York City. Stephen Chernin/Getty Images NEW YORK – A dour report on job losses in June sent stocks sharply lower Thursday. Major stock indexes fell more than 2.6 percent after the government said the U.S. unemployment rate hit a 26-year high. The Dow Jones industrials closed at their lowest level in six weeks. Trading on the New York Stock Exchange was extended until 4:15 p.m. Eastern time in order to execute customer orders impacted by system irregularities, an NYSE spokeswoman said. As investors sold off stocks amid fresh concerns about the economy, they moved into the safety of bonds, pushing Treasury yields lower. Recession-weary employers in the... [read full story]
