U.S Stock Market in freefall, everybody gets hit

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nasdaq crash

The state of the United States economy is such that there seems to be no sector that can avoid the chain of falling dominoes. Partially in reaction to the U.S. House of Representatives failing to pass the proposed $700 billion dollar bailout bill, the NASDAQ dropped 200 points yesterday, around 9% of its total value.

While RIM continued its downward slide, losing approx. 11% of its total value to close at $61.50/share, it was hardly the only technology company in our sphere to get hit. Apple dropped 17.4%, while Google and Adobe dropped around 11%.

For the employees and families of all those companies involved, we hope something can jumpstart the U.S. economy before things get worse. Check out our current Weekly Contest and let us know if you think RIM will be okay.

(via WSJ)

  • Bla1ze

    This is why I was so curious as to why sooo much emphasis was placed on RIM, sure they had bad numbers, but ummm..so did everyone else!

  • Bla1ze

    This is why I was so curious as to why sooo much emphasis was placed on RIM, sure they had bad numbers, but ummm..so did everyone else!

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    This is actually a buyong opportunity ion the stock market.

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