BUSINESS
11/09/2008 05:12 am ET Updated May 25, 2011

G7 To Meet On World Financial Crisis

ear-driven selling sent U.S. stocks plummeting to five-year lows on Thursday, on the eve of a G7 meeting of economic powers to try to halt a global spiral of financial distress and slowing growth.

The Dow dived below 8,600 for the first time since May 2003 and the S&P 500 dropped 7 percent as credit markets buckled. Both the Dow and S&P 500 have now lost more than 20 percent over a seven-day down streak.

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