Business Update: Economic angst

January 29, 2009

Wall Street had it worst day in over a week as record continuing unemployment claims and more layoff announcements underscored the depth of the economic recession. The Dow tumbled 226 points to 8,149. The S&P 500 lost 28 points, a decline of 3.3 percent, to 845. The Nasdaq shed 50 points, or 3.2 percent, to 1,507. Speaker: Brian Fabbri, chief economist - North America - BNP Paribas Conway Gittens reports from New York.