Market Tumbles, Upswing Ends

After a brief upswing, the stock market is down again, reports the Wall Street Journal. The Dow fell 226 points, a loss of 2.7 percent. Banks JP Morgan Chase and Bank of America lost over 8 percent each; General Motors and General Electric fell 7 and 5.8 percents, respectively. One trader told the Journal: “For most traders, the bottom line is jobs…. That’s what we want to see—this is an economy powered by consumer spending.”