Wall Street rout pushes Dow below 9,000

By MARTIN CRUTSINGER and JEANNINE AVERSA, AP WASHINGTON - Calm gave way to fear in financial markets Thursday, turning a relatively steady day into a rout that pushed the Dow Jones industrials below 9,000 for the first time in five years. President Bush with Treasury Secretary Henry Paulson addresses the media in the Roosevelt Room of the White House in Washington, Tuesday, Jan. 22, 2008. (AP photo/ Lawrence Jackson) Investors, who had begun the day somewhat optimistic that the government was taking extraordinary steps to contain the financial crisis, turned gloomy under an onslaught of worries about the economy and corporations. On the anniversary of its closing high, the Dow shed more than 7 percent, or almost 700 points, to 8579.19. The Dow has lost 5,585 points, or 39 percent, since closing at 14,198 a year ago. The S&P... [read full story]                    

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