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Stocks End Rough Week With Modest Drop

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Jan 18, 2008 2:00 pm US/Central

Stocks End Rough Week With Modest Drop

 CBS News Interactive: Eye On The Economy

NEW YORK (AP) ― Wall Street ended a painful week with another decline Friday as skittish investors unable to hold on to much optimism about the economy drew little comfort from President Bush's stimulus plan.

The day's trading reflected how fractious Wall Street has been in the new year. Investors pulled back from a big early advance, with the major indexes trading mixed as Bush began to speak. By the time the president finished announcing a plan for about $145 billion worth of tax relief, the indexes were well into negative territory.

According to preliminary calculations, the Dow Jones industrial average, which was up more than 180 points early in the session, fell 59.91, or 0.49 percent, to 12,099.30. The Dow plunged 306 points Thursday amid deepening pessimism about the economy.

The broader Standard & Poor's 500 index fell 8.06, or 0.60 percent, to 1,325.19, while the technology-focused Nasdaq composite index dropped 6.88, or 0.29 percent, to 2,340.02.


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