Wall Street hits 12 year bottom!

New York’s Wall Street hit a 12 year low by market close Monday.

New York, NY (JusticeNewsFlash.com)–Reuters reported S&P 500 and Dow Jones industrial markets close, on Monday, with a record 12 year low. The Dow closed at 7,114.94 and Standard & Poor’s 500 Index closed at 743.32. Both losses total more than 3% overall for the business day. According to financial industry insiders investors are losing faith in the U.S. government’s rescue plan.

The federal government reported today it may convert its stake in Citigroup to a big common stock holding alarming American consumers. CNBC reported American International Group, a large insurance company, may be forced into bankruptcy if the feds fail to secure funding. Further reports on declining business and consumer spending in technology products hit IBM and Hewlett-Packard hard on Monday.

Nationwide consumer fears of U.S. banks being nationalized has not helped the declining financial market. Citigroup and Bank of America rebounded by 9.7% and 3.2% on Monday after falling more than 35% at the close of business Friday. Almost $10 trillion in U.S. stocks has been lost since Wall Street’s record high in October 2007.

New York business litigation lawyer news by JusticeNewsFlash.com.

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Heather L. Ryan, R.N., C.L.N.C- Heather Ryan is a Certified Legal Nurse Consultant with 15 years of experience in the health care industry. Her expertise in reviewing medical records and assisting lawyers with the determination as to whether legal action should be taken provides an invaluable asset to the newsroom. Medical-malpractice, products liability, personal injury and workers’ compensation are some of the recent areas of litigation Ms. Ryan has focused her efforts on. A member of the Florida Justice Association, Heather maintains a long list of certifications and credentials to support her areas of expertise and stays up-to-date with her clinical knowledge working as an emergency room/trauma nurse, at a Level 1, Adult/Pediatric trauma and teaching institution in South Florida.