American Express Co. on Friday became the sixth current Dow Jones Industrial Average component to see its shares trade below $10. Since the eruption of financial and economic crisis last fall, stocks large and small have been in free fall, with the Dow now pushing to new 12-year lows. Investors initially touted larger companies as the best to hold because of larger balance sheets and more diversified products, but with six of the 30 Dow components now in the single digits - a previously incomprehensible development - traders say the idea of buying large company stocks, in order to be safe, seems futile.
American Express joins General Motors, which slipped under $10 in July 2008, American International Group in September, Alcoa in October, Citigroup Inc. in November, Bank of America Corp. in January 2009 and General Electric Co., which sank below that level on Feb. 20, 2009.
Answer by grlygrlz2 at 4:28 PM on Mar. 6, 2009
Answer by NotPanicking at 4:35 PM on Mar. 6, 2009
Answer by LoriKeet at 4:42 PM on Mar. 6, 2009
Answer by akinbottom2 at 4:43 PM on Mar. 6, 2009
Answer by Anonymous at 4:49 PM on Mar. 6, 2009
Answer by Anonymous at 4:52 PM on Mar. 6, 2009
Answer by Anonymous at 4:57 PM on Mar. 6, 2009
Answer by Anonymous at 5:17 PM on Mar. 6, 2009
We have been buying stocks. My parents are rich and became rich in the early 80's when the economy was like it is today. They bought low and sold when it went up. They made millions. Did not hurt they bought Walmart stock in the 70s they bought 300 shares and they were worth millions when they sold them a few years back. Now is a great time to invest. There is risk but there is always risk in anything that can make you wealthy.
Answer by Anonymous at 6:47 PM on Mar. 6, 2009
Answer by JackalsWife at 6:50 PM on Mar. 6, 2009