Mon Oct 5, 2007 10:16AM EST (Reusters) - More than 4 months after the greatest market crash in History where both Dow Jones Index and Nasdaq lost more than 30% of their value, Wall Street is still trying to figure out the extent of the damages.
More than 100 major Hedge Funds, Investment Houses and Banks have gone out of business and Corporate America is multiplying the layoffs across the country. Defaults on mortgages that seemed inoffensives until this spring have contributed to the market instability. The contagion into the other sectors of the economy has caused tremendous damages to the market.
The Fed is widely expected to lower by another 50 points, for a fourth consecutive month.