Dow Off 149, Down 8.8% for Month

GDP report ends month of layoffs, losses

By Nick McMaster, Newser Staff

Posted Jan 30, 2009 3:18 PM CST

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Dow Off 149, Down 8.8% for Month — Traders work on the floor of the New York Stock Exchange Friday, Jan. 30, 2009. (AP Photo/Richard Drew)

Stocks extended losses today off the news of a 3.8% decline in US GDP for the fourth quarter, ending a turbulent month, MarketWatch reports. The report capped a week of widespread layoffs and poor earnings at major US firms. Amazon.com was a rare exception, up 18% on strong fourth-quarter earnings. The Dow fell 148.15 to close at 8,000.86. The Nasdaq closed down 31.42 at 1,476.42, and the S&P 500 lost 19.26 to settle at 825.88.

For January, the Dow fell 8.8%, the Nasdaq shed 6.4%, and the S&P 500 lost 2.3%

(More Dow Jones stories.)

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