Virginia stocks fall slightly
- October 24, 2008
Most major Virginia stocks were down Friday as U.S. markets fall amid widespread fears of a global recession.
The Dow was closed down 312 points as investors pulled out of the market after many companies reported poor earnings for the third quarter. The other major indexes were down 3 percent.
Still, the U.S. market so far has done better than Wall Street had predicted. World markets saw a steep sell-off Friday morning and index futures fell so low selling halts were imposed. Some even suggested the day could be so bad it would become known as “Black Friday.”
In Virginia, the hardest hit companies have been power company LandAmerica Financial Group, which fell 11 percent, James River Coal Co., which fell 11 percent, Media General, which fell 14 percent. Still, Virginia stocks haven’t fallen as much as they did in recent drops in the Dow.
Here is how some of Virginia’s major stocks closed Friday:
Altria, down 36 cents, $19.22
General Dynamics, down $2.26, $54.70
Dominion, down 56 cents, $35.14
Smithfield Foods, down $1.23, $12.35
AES Corp., down 56 cents, $7.86
Circuit City Stores, up 5 cents, 25 cents
Capital One, down 41 cents, $35.30
Genworth Financial, down 52 cents, $5.14
Norfolk Southern, down $1.46, $53.12
CarMax, down 40 cents, $9.37
Gannett Co., down 17 cents, $9.47
MeadWestvaco, down 95 cents, $13.15
Owens & Minor, up 42 cents, $37.39
Advance Auto Parts, down $1.32, $25.91