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Economy: Stock Market, Deflation #924817

NBC Evening News for Thursday, Nov 20, 2008
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(Studio: Brian Williams) The end of the bull market with another drop in the stock market noted; figures cited. NOTE: Local news bulletin on screen.

(Studio: Trish Regan) The meltdown on the stock market due to investor fear examined; statistics on the Dow and S&P, unemployment, consumer prices and oil and gas prices cited; details given of concern about deflation. [UBS Art CASHIN†- says investors got swept up in the tsunami of selling.] [White House press secretary Dana PERINO – states the financial and credit crisis is having an impact on job creation.] [Former FDIC chairman Bill SEIDMAN†- explains why cheaper prices are not good for the economy.] [Deutsche Bank chief economist Joe LaVORGNA†- describes how deflation hurts the economy.] The loss for Citigroup noted.

Reporter(s):
Williams, Brian;
Regan, Trish
Duration:
00:03:50

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