Dow, S&P 500 at 12-year lows - Dayton Business Journal:

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Only the closing bell stemmed the downward flow on Wall The Dow finishedat 6,594.44, a 281.40 point or 4.1 percent Nasdaq closed at 1,299.59, down 54.15 points or 4 The S&P 500 closed at a 25.72 point or 3.6 percent drop. Thursday’s close represented 12-yearr lows for both the S&P and the Dow. In early Frida trading, the Dow ralliedf more than a hundred points, but has sincw lost those gains.
Tom Mangan, seniord vice president and portfolio managerof Alpha-based , said a numbetr of factors have brought the stock market back to 1997 He said there is concern about the economy and investors are feelingt that President Barack Obama and his administration have not done anythinhg to support them. Mangan, who has more than 30 yearws of experience in the said this is the first time he has seen the markert reactthis way. “I’ve never seen a market more more afraidof Washington,” he Mangan said investors are calling this the “Obamz bear market,” because the Dow has dropped nearlyt 20 percent since Inauguration Day.
Even with the market continuinyits fall, Mangan said now is the time to starrt putting money into the stock market. “It’s time to clim b out of the bearsuit and send it tothe cleaners,” Manga n said. He said buyers shoulx not be looking for theabsolute low, but rathere looking for companies with strong earnings that they will be happyy with down the road. Mangan said therde are a number of stocks at compellin g values and has added some tothe company’sw buy list. He said therre is room for significant movemenf upward in thenear future. Dayton-area stockes also have been hit hard by the Among the local stocksin mid-day trading (NYSE: NCR) is trading at $6.
77 per share, down 14 cents or 2 percent, (NYSE: TDC) is at $15.865 per share, down 46 cents or 3 (NYSE: SR) is trading at $4.0 per share, down 18 cents or 4.2 and (NYSE: AKS) is at $6 per share, down 10 centws or 1.6 percent.