U.S. stocks hit five-year low

As the outlook for U.S. economic situation and the deterioration of the auto industry worried about the fate of the giant, 19, New York, more than 5% of the stock market, hitting a new low over the past five years, the Dow Jones industrial average fell more than 400 points to close at 8,000 points below span The day's economic data showed the consumer price index fell a record high, while housing construction starts declining greatly and span the Labor Department reported that October consumer price index (CPI) fell 1%, or the creation of the index hit a 61-year high span This shows that investors worry that increased the risk of deflation span In addition, the U.S. Department of Commerce announced in October housing starts decreased by 4.5 percent, fell to its lowest level since World War II, shows that the real estate market remains in the doldrums, or will span The bad economic data intensified investors worried about the economic recession emotional, financial, science and technology plate and the plate manufacturer of the commodity futures market shares led span At the same time, investors also for the three major U.S. automakers are disturbed by the fate of the span of 19 General Motors, Ford and Chrysler chief executive officer in the U.S. Congress to testify on the second day of the investors is expected to span the U.S. government to spend U.S. 700,000,000,000 Yuan financial auto industry's rescue funds little hope of relief, and that the market regardless of whether the government aid auto giant sell its shares of common stock investors have lost the value of the span, therefore, GM and Ford's stock price continued to decline, fell 10% and 25% of the span The Federal Reserve on the same day 14:00 announced on October 29 monetary policy meeting, at this meeting that the Federal Reserve to cut interest rates by 50 basis points span the minutes showed the Fed lowered the 2009 economic growth expectations, and Some members of the low level of interest rates on concerns that span New York stock market closed, the Dow Jones industrial average price index over the previous trading day down 427.47 points to close at 7997.28 points, or 5.07 percent span Standard & Poor's 500 index fell 52.54 points to close at 806.58 points, or 6.12 percent for the span and the Nasdaq composite index fell 96.85 points to close at 1386.42 points, or 6.53 percent span Major European stock markets also fell on the same day span London stock market, "Financial Times" 100 Share Index fell 4.82 percent to close at 4005.68 points span Frankfurt DAX stock index fell 4.92 percent to close at 4354.09 points span of the Paris CAC40 stock index was down 4.03 percent , To close at 3087.89 points span